TELUS (NYSE:TU) Hits New 52-Week Low – Here’s Why

TELUS Corporation (NYSE:TU) (TSE:T)’s stock price reached a new 52-week low on Monday . The stock traded as low as $10.93 and last traded at $10.9550, with a volume of 276621 shares changing hands. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TU shares. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.50 to $16.00 in a report on Tuesday, March 10th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, TELUS currently has an average rating of “Hold” and an average target price of $16.33.

TELUS Price Performance

The firm has a market capitalization of $16.63 billion, a P/E ratio of 24.02, a PEG ratio of 10.60 and a beta of 0.61. The business’s 50-day simple moving average is $12.13 and its 200 day simple moving average is $12.86. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a yield of 15.8%. The ex-dividend date is Wednesday, June 10th. TELUS’s dividend payout ratio is presently 275.00%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TU. Manchester Capital Management LLC boosted its holdings in TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 1,712 shares during the period. Flagship Harbor Advisors LLC purchased a new position in TELUS in the 4th quarter worth approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in TELUS by 129.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 1,393 shares during the period. Kestra Advisory Services LLC bought a new stake in TELUS in the fourth quarter valued at approximately $55,000. Finally, State of Wyoming bought a new stake in TELUS in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.