TELUS (TSE:T) Price Target Cut to C$23.00

TELUS (TSE:T) (NYSE:TU) had its target price reduced by investment analysts at Barclays from C$24.00 to C$23.00 in a research report issued on Wednesday, BayStreet.CA reports.

A number of other research analysts also recently commented on T. JPMorgan Chase & Co. lowered their target price on TELUS from C$24.00 to C$23.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. TD Securities dropped their price objective on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. Scotiabank lowered their price target on shares of TELUS from C$24.25 to C$24.00 in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group cut TELUS from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$23.00 to C$21.50 in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TELUS has a consensus rating of “Moderate Buy” and an average target price of C$24.54.

TELUS Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58. TELUS has a 52 week low of C$20.04 and a 52 week high of C$25.94. The stock has a 50-day moving average price of C$22.36 and a two-hundred day moving average price of C$22.02. The stock has a market capitalization of C$32.68 billion, a PE ratio of 41.72, a PEG ratio of 2.07 and a beta of 0.72.

TELUS (TSE:T) (NYSE:TU) last released its earnings results on Friday, August 2nd. The company reported C$0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.24 by C$0.01. TELUS had a return on equity of 4.67% and a net margin of 3.91%. The firm had revenue of C$4.97 billion during the quarter, compared to analysts’ expectations of C$5.04 billion. On average, research analysts expect that TELUS will post 1.0598971 EPS for the current year.

Insiders Place Their Bets

In other TELUS news, Director Marc Parent purchased 10,530 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of C$22.52 per share, for a total transaction of C$237,135.60. 0.02% of the stock is owned by insiders.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.