Cormark Weighs in on TELUS’s Q3 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities researchers at Cormark issued their Q3 2024 earnings per share estimates for shares of TELUS in a research note issued on Monday, October 21st. Cormark analyst D. Mcfadgen expects that the Wireless communications provider will earn $0.16 per share for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.73 per share.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $0.14 EPS.

A number of other research analysts have also commented on the company. Canaccord Genuity Group lowered TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, TELUS currently has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Stock Performance

Shares of NYSE TU opened at $15.94 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The stock’s fifty day moving average price is $16.40 and its two-hundred day moving average price is $16.14. TELUS has a one year low of $14.63 and a one year high of $19.14. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 2.47 and a beta of 0.74.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.284 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Tuesday, September 10th. TELUS’s dividend payout ratio is 287.50%.

Institutional Trading of TELUS

Large investors have recently modified their holdings of the stock. Fairscale Capital LLC bought a new stake in shares of TELUS during the 2nd quarter worth $27,000. Blue Trust Inc. lifted its position in shares of TELUS by 60.4% during the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after buying an additional 954 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of TELUS during the 1st quarter worth $58,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of TELUS during the 1st quarter worth $71,000. Finally, Acadian Asset Management LLC bought a new stake in shares of TELUS during the 2nd quarter worth $123,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.