Telus (T) Downgraded by CIBC to “Neutral”

CIBC downgraded shares of Telus (TSE:T) (NYSE:TU) from an outperform rating to a neutral rating in a research report sent to investors on Friday.

Several other analysts have also weighed in on the stock. TD Securities decreased their target price on shares of Telus from C$54.00 to C$53.00 and set a buy rating on the stock in a research report on Friday. Scotiabank lifted their target price on shares of Telus to C$52.00 and gave the company an outperform rating in a research report on Monday, May 7th. Morgan Stanley upgraded shares of Telus from an equal weight rating to an overweight rating in a research report on Monday, April 30th. Royal Bank of Canada lifted their target price on shares of Telus from C$51.00 to C$52.00 in a research report on Tuesday, April 10th. Finally, JPMorgan Chase cut their price target on shares of Telus from C$53.00 to C$50.00 in a report on Monday, February 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Telus presently has a consensus rating of Buy and an average price target of C$50.50.

Shares of Telus opened at C$45.70 on Friday, Marketbeat Ratings reports. Telus has a twelve month low of C$43.30 and a twelve month high of C$48.94.

Telus (TSE:T) (NYSE:TU) last issued its earnings results on Thursday, February 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.56 by C($0.01). Telus had a net margin of 8.29% and a return on equity of 13.52%. The business had revenue of C$3.47 billion for the quarter, compared to analyst estimates of C$3.43 billion.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 8th will be issued a dividend of $0.525 per share. This is an increase from Telus’s previous quarterly dividend of $0.51. This represents a $2.10 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, June 7th.

Telus Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

Analyst Recommendations for Telus (TSE:T)

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