Scotiabank Upgrades TELUS (TSE:T) to “Outperform”

TELUS (TSE:T) (NYSE:TU) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Monday, MarketBeat.com reports.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of TELUS from C$24.00 to C$23.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. TD Securities decreased their target price on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating and lowered their price target for the company from C$23.00 to C$21.50 in a report on Tuesday, August 6th. CIBC dropped their price target on shares of 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. Finally, Barclays reduced their price objective on TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$24.54.

TELUS Stock Down 0.6 %

T stock opened at C$22.32 on Monday. The company’s 50 day simple moving average is C$22.32 and its 200-day simple moving average is C$22.07. TELUS has a 52-week low of C$20.04 and a 52-week high of C$25.94. 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 firm has a market capitalization of C$33.03 billion, a P/E ratio of 42.11, a P/E/G ratio of 1.65 and a beta of 0.72.

TELUS (TSE:T) (NYSE:TU) last announced its earnings results on Friday, August 2nd. The company reported C$0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.24 by C$0.01. The company had revenue of C$4.97 billion for the quarter, compared to the consensus estimate of C$5.04 billion. TELUS had a net margin of 3.91% and a return on equity of 4.67%. As a group, equities research analysts anticipate that TELUS will post 1.2267985 EPS for the current year.

Insiders Place Their Bets

In other TELUS news, Director Marc Parent acquired 10,530 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of C$22.52 per share, with a total value of C$237,135.60. 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.