Scotiabank Lowers TELUS (TSE:T) to Sector Perform

Scotiabank cut shares of TELUS (TSE:T) (NYSE:TU) from an outperform rating to a sector perform rating in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has C$26.00 price target on the stock, down from their previous price target of C$28.00.

Several other brokerages have also recently issued reports on T. Desjardins increased their target price on shares of TELUS from C$27.00 to C$28.00 and gave the stock a buy rating in a report on Friday, January 26th. BMO Capital Markets decreased their price objective on shares of TELUS from C$27.00 to C$26.00 and set an outperform rating for the company in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of TELUS from C$26.00 to C$27.00 and gave the company a neutral rating in a research report on Monday, February 12th. Royal Bank of Canada increased their price objective on shares of TELUS from C$29.00 to C$30.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Finally, CIBC increased their price target on shares of TELUS from C$26.00 to C$28.00 and gave the stock an outperform rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of C$27.36.

TELUS Stock Up 0.4 %

Shares of T opened at C$21.67 on Monday. TELUS has a 12-month low of C$21.16 and a 12-month high of C$28.95. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 159.88. The company has a market capitalization of C$32.07 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.70. The business’s 50 day moving average is C$23.50 and its 200 day moving average is C$23.51.

TELUS (TSE:T) (NYSE:TU) last released its quarterly earnings data on Friday, February 9th. The company reported C$0.24 EPS for the quarter, beating the consensus estimate of C$0.23 by C$0.01. TELUS had a net margin of 4.20% and a return on equity of 4.96%. The business had revenue of C$5.20 billion during the quarter, compared to the consensus estimate of C$5.24 billion. Research analysts expect that TELUS will post 1 earnings per share for the current fiscal year.

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a $0.376 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $1.50 dividend on an annualized basis and a yield of 6.94%. TELUS’s payout ratio is currently 263.16%.

About TELUS

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.