TELUS (TSE:T) Given New C$12.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark lowered its TELUS price target to C$12.00 from C$13.50 while maintaining a “hold” rating, implying about 1.35% upside from the prior close.
• Analyst sentiment remains cautious: TELUS has a consensus “Hold” rating and an average price target of C$16.57, with several firms recently cutting targets or downgrading the stock.
• TELUS shares traded at C$11.84, well below their 50-day and 200-day moving averages. The company reported C$0.16 quarterly EPS on C$4.92 billion in revenue, but posted negative net margin and return on equity.

TELUS (TSE:T - Get Free Report) NYSE: TU had its price target dropped by ATB Cormark Capital Markets from C$13.50 to C$12.00 in a note issued to investors on Monday, BayStreet reports. The firm presently has a "hold" rating on the stock. ATB Cormark Capital Markets' price objective would indicate a potential upside of 1.35% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Barclays reduced their price target on TELUS from C$19.00 to C$17.00 in a research note on Thursday, July 16th. Morgan Stanley downgraded shares of TELUS from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from C$20.00 to C$13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada cut TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 4th. National Bank Financial lowered their price objective on shares of TELUS from C$15.00 to C$13.00 in a research report on Wednesday, September 30th. Finally, Canaccord Genuity Group reduced their price target on shares of TELUS from C$16.75 to C$15.50 and set a "hold" rating for the company in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$16.57.

TELUS Price Performance

T stock traded down C$0.07 during midday trading on Monday, reaching C$11.84. The company had a trading volume of 3,131,779 shares, compared to its average volume of 8,059,764. The company has a debt-to-equity ratio of 236.85, a current ratio of 0.67 and a quick ratio of 0.52. The company has a market capitalization of C$18.65 billion, a P/E ratio of -20.07, a P/E/G ratio of 1.65 and a beta of 0.59. The firm has a 50-day moving average price of C$12.60 and a 200-day moving average price of C$14.91. TELUS has a 1 year low of C$10.89 and a 1 year high of C$21.63.

TELUS (TSE:T - Get Free Report) NYSE: TU last posted its quarterly earnings results 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 during the quarter. TELUS had a negative net margin of 4.55% and a negative return on equity of 6.56%. On average, research analysts anticipate that TELUS will post 1.23 earnings per share for the current fiscal year.

TELUS Company Profile

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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