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

TELUS Corporation (NYSE:TU) (TSE:T) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.52 and last traded at $12.5150, with a volume of 3603199 shares changing hands. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TU. BMO Capital Markets downgraded TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. TD Securities downgraded TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.50 to $16.00 in a report on Tuesday, March 10th. Scotiabank reiterated an “outperform” rating on shares of TELUS in a report on Tuesday, February 17th. Finally, Wall Street Zen downgraded TELUS from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TELUS currently has an average rating of “Hold” and a consensus price target of $17.63.

TELUS Trading Down 2.4%

The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The business’s 50-day simple moving average is $13.52 and its two-hundred day simple moving average is $13.88. The company has a market capitalization of $19.43 billion, a PE ratio of 24.11, a PEG ratio of 1.92 and a beta of 0.68.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same period in the previous year, the company earned $0.25 earnings per share. On average, analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th were given a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend was Wednesday, March 11th. TELUS’s dividend payout ratio is presently 236.54%.

Hedge Funds Weigh In On TELUS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new position in shares of TELUS during the second quarter worth about $27,000. Manchester Capital Management LLC lifted its position in shares of TELUS by 320.0% during the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of TELUS during the fourth quarter worth about $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of TELUS by 129.0% during the fourth 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 last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 759 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

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.