Royal Bank of Canada Cuts TELUS (TSE:T) Price Target to C$24.00

TELUS (TSE:T) (NYSE:TU) had its price target decreased by Royal Bank of Canada from C$25.00 to C$24.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also commented on T. BMO Capital Markets increased their price target on shares of TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. Cormark cut their price target on TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. TD Securities decreased their price objective on TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. National Bank Financial downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Scotiabank lowered their price target on TELUS from C$24.00 to C$23.25 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and an average price target of C$24.23.

TELUS Price Performance

Shares of TSE:T opened at C$20.05 on Wednesday. TELUS has a 52 week low of C$19.81 and a 52 week high of C$24.92. The company has a 50-day moving average price of C$21.77 and a 200 day moving average price of C$21.92. The company has a market cap of C$29.67 billion, a P/E ratio of 37.83, a PEG ratio of 1.65 and a beta of 0.72. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.402 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.39. This represents a $1.61 annualized dividend and a yield of 8.02%. The ex-dividend date is Wednesday, December 11th. TELUS’s payout ratio is currently 294.34%.

Insider Activity

In other news, Director Victor George Dodig bought 100,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. Also, Director Marc Parent purchased 19,100 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Company insiders own 0.02% of the company’s stock.

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.