Desjardins Reiterates C$23.00 Price Target for TELUS (TSE:T)

Desjardins set a C$23.00 price target on TELUS (TSE:T) (NYSE:TU) in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

T has been the subject of a number of other research reports. Scotiabank lowered their price objective on shares of TELUS from C$26.00 to C$22.50 and set an “outperform” rating for the company in a research report on Monday. BMO Capital Markets lowered TELUS from an “outperform” rating to a “hold” rating and lowered their price target for the stock from C$23.00 to C$19.00 in a research report on Thursday, December 11th. Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. JPMorgan Chase & Co. lowered TELUS from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from C$22.00 to C$19.00 in a research note on Tuesday, November 18th. Finally, National Bankshares dropped their target price on TELUS from C$21.50 to C$21.00 and set an “outperform” rating for the company in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$21.83.

TELUS Stock Performance

Shares of TELUS stock opened at C$18.83 on Monday. The firm has a market cap of C$29.20 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. TELUS has a 52 week low of C$17.26 and a 52 week high of C$23.29. The business’s fifty day simple moving average is C$18.53 and its 200-day simple moving average is C$20.79.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. TELUS had a net margin of 4.62% and a return on equity of 5.80%. The firm had revenue of C$5.07 billion for the quarter. Equities analysts forecast that TELUS will post 1.2267985 earnings per share for the current year.

About TELUS

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.