Desjardins Cuts TELUS (TSE:T) Price Target to C$21.50

TELUS (TSE:T) (NYSE:TU) had its price target lowered by equities research analysts at Desjardins from C$23.00 to C$21.50 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 23.14% from the company’s previous close.

Several other research firms also recently commented on T. TD Securities downgraded shares of TELUS from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$21.00 to C$19.00 in a report on Thursday, April 2nd. Morgan Stanley lowered their target price on shares of TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “hold” rating and lowered their target price for the stock from C$23.00 to C$19.00 in a report on Thursday, December 11th. National Bank Financial reduced their price target on shares of TELUS from C$21.50 to C$21.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Finally, ATB Cormark Capital Markets reduced their price target on shares of TELUS from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TELUS currently has a consensus rating of “Hold” and a consensus price target of C$21.00.

TELUS Price Performance

Shares of T stock traded down C$0.44 during mid-day trading on Tuesday, hitting C$17.46. The company had a trading volume of 5,276,497 shares, compared to its average volume of 7,126,760. TELUS has a 52-week low of C$17.26 and a 52-week high of C$23.18. The stock’s 50 day moving average price is C$18.52 and its 200-day moving average price is C$19.21. The company has a debt-to-equity ratio of 199.42, a current ratio of 0.86 and a quick ratio of 0.52. The company has a market capitalization of C$27.26 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.65 and a beta of 0.56.

TELUS (TSE:T) (NYSE:TU) last released its earnings results on Thursday, February 12th. The company reported C$0.20 EPS for the quarter. TELUS had a net margin of 5.47% and a return on equity of 7.68%. The firm had revenue of C$5.23 billion for the quarter. Equities research analysts forecast that TELUS will post 1.2267985 earnings per share for the current year.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.