JPMorgan Chase & Co. Cuts TELUS (TSE:T) Price Target to C$22.00

TELUS (TSE:T) (NYSE:TU) had its price objective lowered by JPMorgan Chase & Co. from C$23.00 to C$22.00 in a research report report published on Thursday,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on T. Barclays lowered their price objective on shares of TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. Cormark lowered their price target on shares of TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. National Bank Financial lowered TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. BMO Capital Markets boosted their target price on TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada decreased their price target on TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$24.06.

TELUS Stock Up 1.4 %

Shares of TSE T opened at C$19.91 on Thursday. The business has a fifty day moving average of C$21.13 and a two-hundred day moving average of C$21.68. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66. TELUS has a 52-week low of C$19.10 and a 52-week high of C$24.92. The stock has a market cap of C$29.47 billion, a PE ratio of 37.57, a PEG ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.402 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 8.08%. This is an increase from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, December 11th. TELUS’s dividend payout ratio is currently 294.34%.

Insider Activity at TELUS

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