Scotiabank Has Lowered Expectations for TELUS (TSE:T) Stock Price

Key Points

• Scotiabank cut its TELUS price target from C$26.00 to C$22.50 while maintaining an "outperform" rating, implying about a 20.5% upside from the current share price.
• The analyst picture is mixed but tilts positive: the consensus rating is "Moderate Buy" with an average target of C$21.83, amid divergent moves such as Morgan Stanley lowering its target to C$20, BMO cutting to C$19, and CIBC raising to C$25 while Canaccord upgraded to a buy.
• TELUS shares trade around C$18.67 (market cap C$28.96B) with a P/E of 23.94; the company reported C$0.24 EPS on C$5.07B revenue in its most recent quarter.

TELUS (TSE:T - Get Free Report) NYSE: TU had its price target dropped by analysts at Scotiabank from C$26.00 to C$22.50 in a report issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price target would suggest a potential upside of 20.51% from the stock's current price.

A number of other analysts have also weighed in on the company. Desjardins lowered their target price on TELUS from C$25.00 to C$24.00 and set a "buy" rating for the company in a report on Thursday, October 9th. CIBC boosted their target price on shares of TELUS from C$24.00 to C$25.00 in a report on Friday, October 17th. Morgan Stanley lowered their price target on shares of TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. Canaccord Genuity Group upgraded shares of TELUS from a "hold" rating to a "buy" rating in a research note on Thursday, December 4th. Finally, BMO Capital Markets downgraded shares of TELUS from an "outperform" rating to a "hold" rating and lowered their target price for the company from C$23.00 to C$19.00 in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$21.83.

TELUS Trading Up 0.5%

Shares of TSE:T traded up C$0.09 on Monday, hitting C$18.67. 1,804,716 shares of the company's stock were exchanged, compared to its average volume of 5,437,315. The stock has a market capitalization of C$28.96 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. TELUS has a 12 month low of C$17.26 and a 12 month high of C$23.29. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. The business's 50 day simple moving average is C$18.64 and its two-hundred day simple moving average is C$20.84.

TELUS (TSE:T - Get Free Report) NYSE: TU last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. The firm had revenue of C$5.07 billion during the quarter. TELUS had a return on equity of 5.80% and a net margin of 4.62%. Analysts anticipate that TELUS will post 1.2267985 EPS for the current fiscal 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.

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