TELUS Corporation’s price target has been revised downward by National Bankshares from C$21.50 to C$21.00, according to a report published on Wednesday. Despite this adjustment, National Bankshares maintains an outperform rating on the stock, reflecting a cautious but positive outlook.
A range of other financial institutions have also recently reassessed their positions on TELUS shares. On December 4, Canaccord Genuity Group upgraded the stock from a “hold” rating to a “buy” rating, indicating increased confidence in its potential. Conversely, Desjardins lowered its price target from C$25.00 to C$24.00 while still issuing a “buy” rating in a report dated October 9.
CIBC raised its price target for TELUS from C$24.00 to C$25.00 in a report released on October 17. Meanwhile, JPMorgan Chase & Co. downgraded the stock from a “neutral” to an “underweight” rating, reducing its price target from C$22.00 to C$19.00 in a report published on November 18.
The mixed ratings from various analysts reflect a broader divergence in market sentiment. Currently, one analyst has assigned a Strong Buy rating to TELUS, while seven have given it a Buy rating. Three analysts have opted for a Hold rating, and one has placed a Sell rating on the stock. Based on data from MarketBeat, TELUS holds a consensus rating of “Moderate Buy” with an average price target of C$22.21.
Current Performance Metrics
TELUS stock opened at C$17.50 on Wednesday. The stock has shown variability over the past year, with a twelve-month low of C$17.26 and a high of C$23.29. As of now, it has a market capitalization of C$27.14 billion, a price-to-earnings (P/E) ratio of 22.44, and a P/E/G ratio of 1.65. The stock’s performance has been somewhat stable, with a beta of 0.90, indicating lower volatility compared to the market.
The company’s recent earnings report, released on November 7, revealed an earnings per share (EPS) of C$0.24 for the quarter. TELUS reported a revenue of C$5.07 billion, and the company boasts a return on equity of 5.80% along with a net margin of 4.62%. Analysts predict that TELUS will achieve an EPS of approximately 1.23 for the current fiscal year.
Company Overview
TELUS is one of Canada’s leading telecommunications providers, competing alongside two other major companies in the market. With approximately 9 million mobile phone subscribers, TELUS holds about 30% of the Canadian wireless market share. The company serves as the primary local exchange carrier in British Columbia and Alberta, providing internet, television, and landline services.
In recent years, TELUS has focused on expanding its fiber-optic network to enhance service offerings and compete more effectively with cable providers. This strategic move aims to replace its legacy copper infrastructure and improve connectivity for customers across its service areas.
As the telecommunications landscape continues to evolve, stakeholders will be closely monitoring TELUS’s performance and the implications of recent analyst ratings on its market trajectory.
