TELUS (NYSE:TU) Price Target Cut to $30.00 by Analysts at TD Securities

TELUS (NYSE:TU) (TSE:T) had its price target reduced by TD Securities from $31.00 to $30.00 in a research report sent to investors on Monday morning, The Fly reports. TD Securities currently has a buy rating on the Wireless communications provider’s stock.

TU has been the topic of a number of other research reports. BMO Capital Markets raised their target price on shares of TELUS from $26.00 to $30.00 and gave the stock an outperform rating in a report on Friday, February 12th. Zacks Investment Research downgraded TELUS from a hold rating to a strong sell rating and set a $18.00 price target on the stock. in a report on Monday, January 11th. Scotiabank upped their price objective on TELUS from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Tuesday, March 2nd. CIBC upgraded TELUS from a neutral rating to a sector outperform rating in a research note on Wednesday, March 31st. Finally, Credit Suisse Group began coverage on shares of TELUS in a research report on Monday, March 8th. They set a neutral rating and a $33.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $27.89.

TU stock opened at $20.28 on Monday. The stock’s 50 day simple moving average is $20.63 and its 200 day simple moving average is $19.67. TELUS has a 12-month low of $15.33 and a 12-month high of $21.85. The firm has a market cap of $26.30 billion, a P/E ratio of 25.67, a P/E/G ratio of 5.28 and a beta of 0.71. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.43.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Wednesday, February 10th. The Wireless communications provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. TELUS had a net margin of 8.51% and a return on equity of 12.02%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.13 billion. On average, research analysts forecast that TELUS will post 0.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Thursday, March 11th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.83%. This is an increase from TELUS’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, March 10th. TELUS’s payout ratio is 87.27%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in TELUS by 20.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,256 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 551 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of TELUS in the fourth quarter valued at $69,000. Albion Financial Group UT bought a new position in TELUS during the fourth quarter valued at about $186,000. Cobblestone Capital Advisors LLC NY acquired a new position in TELUS during the fourth quarter worth about $206,000. Finally, Advisor Partners LLC bought a new stake in TELUS in the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 49.53% of the company’s stock.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Wireless and Wireline segments. The Wireless segment offers a range of telecommunications products and services. Its wireless products and services include network revenue comprising data and voice; and equipment sales from mobile technologies.

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