Scotiabank Issues Pessimistic Forecast for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its target price dropped by equities researchers at Scotiabank from C$24.00 to C$23.25 in a report released on Tuesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 6.99% from the company’s previous close.

A number of other analysts also recently issued reports on T. Canaccord Genuity Group downgraded shares of TELUS from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$23.00 to C$21.50 in a report on Tuesday, August 6th. BMO Capital Markets raised their price target on shares of TELUS from C$24.00 to C$25.00 in a research note on Thursday, September 5th. Barclays dropped their price objective on TELUS from C$24.00 to C$23.00 in a research note on Wednesday, October 9th. Cormark reduced their price objective on TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. Finally, CIBC lowered their target price on TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$24.40.

TELUS Price Performance

T stock opened at C$21.73 on Tuesday. The company’s 50-day moving average is C$22.10 and its 200-day moving average is C$22.01. The stock has a market capitalization of C$32.16 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. TELUS has a 1 year low of C$20.04 and a 1 year high of C$25.94.

Insider Transactions at TELUS

In other news, Director Victor George Dodig bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. 0.02% of the stock is currently 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.