Canaccord Genuity Group Issues Pessimistic Forecast for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its price objective lowered by research analysts at Canaccord Genuity Group from C$16.75 to C$15.50 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 4.80% from the company’s previous close.

A number of other research firms have also issued reports on T. Barclays reduced their target price on shares of TELUS from C$20.00 to C$19.00 in a research note on Tuesday, April 14th. Scotiabank cut their price target on shares of TELUS from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a report on Tuesday. Royal Bank Of Canada reduced their price objective on TELUS from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. TD Securities raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Desjardins set a C$21.00 price objective on TELUS and gave the stock a “buy” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$19.73.

TELUS Stock Up 0.2%

TSE T traded up C$0.03 on Friday, hitting C$14.79. 2,187,305 shares of the stock traded hands, compared to its average volume of 7,522,192. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 199.56. The stock has a 50-day moving average of C$16.51 and a 200 day moving average of C$17.58. TELUS has a twelve month low of C$14.28 and a twelve month high of C$23.18. The company has a market capitalization of C$23.09 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.65 and a beta of 0.47.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.23 earnings per share (EPS) for the quarter. The company had revenue of C$4.99 billion for the quarter. TELUS had a net margin of 4.57% and a return on equity of 6.41%. As a group, analysts expect that TELUS will post 1.2267985 earnings per share for the current fiscal 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.