Scotiabank Issues Pessimistic Forecast for TELUS (TSE:T) Stock Price

Key Points

• Scotiabank lowered its TELUS price target from C$17.00 to C$15.25 while maintaining a “sector perform” rating, implying 28.48% potential upside from the stock’s reported C$11.87 price.
• Analyst sentiment is largely cautious: TELUS has a consensus “Hold” rating and a C$16.30 average price target, with multiple brokerages recently cutting their targets.
• TELUS reported quarterly EPS of C$0.16 on C$4.92 billion in revenue, but posted a negative net margin of 4.55% and negative return on equity of 6.56%.

TELUS (TSE:T - Get Free Report) NYSE: TU had its target price dropped by Scotiabank from C$17.00 to C$15.25 in a note issued to investors on Tuesday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target would suggest a potential upside of 28.48% from the stock's current price.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 4th. ATB Cormark Capital Markets decreased their price target on shares of TELUS from C$13.50 to C$12.00 and set a "hold" rating on the stock in a research note on Monday. Canadian Imperial Bank of Commerce decreased their price target on shares of TELUS from C$15.00 to C$14.00 and set a "neutral" rating on the stock in a research note on Thursday, October 8th. Desjardins lowered their price objective on shares of TELUS from C$13.50 to C$13.00 and set a "hold" rating for the company in a research report on Wednesday, October 7th. Finally, Barclays dropped their price objective on shares of TELUS from C$19.00 to C$17.00 in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$16.30.

TELUS Price Performance

TSE T traded up C$0.18 during trading on Tuesday, hitting C$11.87. 2,991,042 shares of the stock traded hands, compared to its average volume of 8,048,642. The company has a market capitalization of C$18.70 billion, a P/E ratio of -20.12, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. The firm has a 50-day simple moving average of C$12.56 and a 200-day simple moving average of C$14.86. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 236.85. TELUS has a 12-month low of C$10.89 and a 12-month high of C$21.37.

TELUS (TSE:T - Get Free Report) NYSE: TU last released its quarterly earnings data on Friday, July 31st. The company reported C$0.16 earnings per share (EPS) for the quarter. The business had revenue of C$4.92 billion for the quarter. TELUS had a negative return on equity of 6.56% and a negative net margin of 4.55%. As a group, analysts predict that TELUS will post 1.23 EPS for the current year.

About TELUS

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation TSX: T, NYSE: TU, crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients' products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.

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