TELUS (TSE:T) Rating Increased to Buy at CIBC

TELUS (TSE:TGet Rating) (NYSE:TU) was upgraded by CIBC to a “buy” rating in a report released on Thursday. The brokerage currently has a C$31.00 price objective on the stock. CIBC’s price target suggests a potential upside of 10.12% from the stock’s previous close.

Several other research firms also recently commented on T. Scotiabank upped their price objective on shares of TELUS from C$31.50 to C$32.00 in a report on Monday, November 7th. Royal Bank of Canada upped their price objective on shares of TELUS from C$33.00 to C$34.00 and gave the company an “outperform” rating in a report on Monday, November 7th. National Bankshares dropped their price objective on shares of TELUS from C$35.00 to C$34.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Canaccord Genuity Group dropped their price objective on shares of TELUS from C$34.00 to C$33.00 in a report on Thursday, October 20th. Finally, BMO Capital Markets dropped their price objective on shares of TELUS from C$35.00 to C$33.00 in a report on Tuesday, January 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$32.60.

TELUS Stock Up 1.1 %

TSE:T opened at C$28.15 on Thursday. The company has a market cap of C$40.27 billion and a PE ratio of 19.28. TELUS has a twelve month low of C$25.94 and a twelve month high of C$34.65. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 141.68. The company’s 50 day moving average is C$27.86 and its two-hundred day moving average is C$28.48.

TELUS (TSE:TGet Rating) (NYSE:TU) last released its earnings results on Friday, November 4th. The company reported C$0.34 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.01. The company had revenue of C$4.67 billion for the quarter, compared to analysts’ expectations of C$4.66 billion. Analysts anticipate that TELUS will post 1.4400001 EPS for the current year.

Insider Activity at TELUS

In related news, Director Darren Entwistle sold 563,243 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of C$29.21, for a total value of C$16,451,539.49. Following the completion of the transaction, the director now directly owns 401,598 shares in the company, valued at approximately C$11,730,115.34.

About TELUS

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TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services.

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Analyst Recommendations for TELUS (TSE:T)

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