TELUS (NYSE:TU) Hits New 52-Week Low – Should You Sell?

TELUS Corporation (NYSE:TU) (TSE:T) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.95 and last traded at $10.0740, with a volume of 904830 shares traded. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th. Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Morgan Stanley cut shares of TELUS to an “underweight” rating in a research report on Tuesday. Finally, Raymond James Financial began coverage on shares of TELUS in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, TELUS presently has an average rating of “Hold” and a consensus target price of $15.67.

TELUS Trading Down 1.4%

The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $15.95 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 8.41 and a beta of 0.63. The stock’s fifty day moving average price is $11.56 and its two-hundred day moving average price is $12.63.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.TELUS’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. Sell-side analysts anticipate that TELUS Corporation will post 0.69 earnings per share for the current year.

TELUS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 16.5%. TELUS’s payout ratio is 275.00%.

Hedge Funds Weigh In On TELUS

A number of hedge funds and other institutional investors have recently made changes to their positions in TU. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in TELUS by 76.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 199,076 shares of the Wireless communications provider’s stock worth $2,133,000 after acquiring an additional 86,268 shares during the period. Versant Capital Management Inc increased its position in TELUS by 93.2% during the 2nd quarter. Versant Capital Management Inc now owns 33,363 shares of the Wireless communications provider’s stock valued at $353,000 after purchasing an additional 16,093 shares during the period. Parallel Advisors LLC increased its position in TELUS by 2,265.5% during the 1st quarter. Parallel Advisors LLC now owns 19,586 shares of the Wireless communications provider’s stock valued at $251,000 after purchasing an additional 18,758 shares during the period. Amundi raised its holdings in TELUS by 0.8% in the 1st quarter. Amundi now owns 1,563,278 shares of the Wireless communications provider’s stock worth $20,057,000 after purchasing an additional 11,814 shares in the last quarter. Finally, Parvin Asset Management LLC raised its holdings in TELUS by 119.8% in the 1st quarter. Parvin Asset Management LLC now owns 15,550 shares of the Wireless communications provider’s stock worth $200,000 after purchasing an additional 8,475 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

About TELUS

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.