JPMorgan Chase & Co. Has Lowered Expectations for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its price target reduced by JPMorgan Chase & Co. from C$23.00 to C$22.00 in a report issued on Thursday,BayStreet.CA reports. They currently have a neutral rating on the stock.

T has been the topic of a number of other research reports. National Bankshares cut TELUS from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$24.00 to C$22.00 in a research report on Friday, December 13th. Royal Bank of Canada dropped their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. National Bank Financial cut TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Scotiabank decreased their price target on TELUS from C$24.00 to C$23.25 in a research note on Tuesday, November 26th. Finally, Barclays lowered their price target on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$24.06.

TELUS Trading Up 1.4 %

Shares of TSE:T opened at C$19.91 on Thursday. The business’s 50 day simple moving average is C$21.13 and its 200 day simple moving average is C$21.68. TELUS has a 1 year low of C$19.10 and a 1 year high of C$24.92. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. The company has a market capitalization of C$29.47 billion, a P/E ratio of 37.57, a P/E/G ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

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

Insider Activity at TELUS

In related news, Director Marc Parent acquired 19,100 shares of the 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 bought 100,000 shares of TELUS 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 owned by company insiders.

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.