TELUS Corporation (NYSE:TU) Receives Average Rating of “Hold” from Brokerages

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.6667.

Several equities research analysts have commented on TU shares. Barclays set a $12.00 price objective on shares of TELUS and gave the company an “equal weight” rating in a report on Thursday. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, April 28th. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Finally, Raymond James Financial started coverage on shares of TELUS in a report on Wednesday. They issued a “market perform” rating for the company.

TELUS Stock Performance

Shares of TU opened at $10.39 on Friday. TELUS has a 1 year low of $10.07 and a 1 year high of $16.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. The stock’s fifty day moving average price is $11.60 and its two-hundred day moving average price is $12.65. The firm has a market cap of $16.36 billion, a PE ratio of 23.63, a PEG ratio of 8.35 and a beta of 0.63.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that TELUS will post 0.7 EPS for the current year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a yield of 16.1%. TELUS’s payout ratio is presently 275.00%.

Hedge Funds Weigh In On TELUS

A number of large investors have recently made changes to their positions in TU. Manchester Capital Management LLC grew its position in shares of TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 1,712 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in TELUS by 129.0% during 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 in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in TELUS during the 4th quarter worth about $33,000. State of Wyoming purchased a new stake in TELUS during the 2nd quarter worth about $61,000. Finally, Employees Retirement System of Texas bought a new position in TELUS in the 3rd quarter worth about $64,000. 49.40% of the stock is owned by institutional investors.

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.