TELUS Corporation (NYSE:TU) Receives $15.33 Consensus PT from Analysts

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have earned an average recommendation of “Reduce” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.3333.

TU has been the subject of several research analyst reports. Raymond James Financial assumed coverage on TELUS in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Weiss Ratings downgraded TELUS from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. Desjardins lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce cut shares of TELUS from a “strong-buy” rating to a “neutral” rating in a report on Friday, July 31st. Finally, Morgan Stanley downgraded shares of TELUS to an “underweight” rating in a research report on Tuesday, July 21st.

TELUS Trading Down 3.9%

TELUS stock opened at $9.10 on Friday. The company has a 50 day moving average price of $9.98 and a 200 day moving average price of $11.61. TELUS has a 52 week low of $9.06 and a 52 week high of $16.12. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.67. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of -22.18, a P/E/G ratio of 22.16 and a beta of 0.63.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. Research analysts forecast that TELUS will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a yield of 8.2%. TELUS’s dividend payout ratio is presently -295.12%.

Hedge Funds Weigh In On TELUS

Institutional investors and hedge funds have recently modified their holdings of the stock. Cidel Asset Management Inc. acquired a new stake in TELUS during the second quarter valued at $171,000. NewEdge Advisors LLC raised its stake in shares of TELUS by 1,396,900.0% during the 2nd quarter. NewEdge Advisors LLC now owns 27,940 shares of the Wireless communications provider’s stock worth $295,000 after purchasing an additional 27,938 shares in the last quarter. Nykredit A S purchased a new stake in shares of TELUS during the 2nd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TELUS by 83.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,305 shares of the Wireless communications provider’s stock valued at $162,000 after buying an additional 6,967 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of TELUS during the 2nd quarter valued at about $480,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

About TELUS

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It provides wireless and wireline communications services, including mobile connectivity, internet, voice, television and home security services, primarily to consumers, businesses and public-sector organizations in Canada.

The company also operates technology-focused businesses outside its traditional telecommunications operations. TELUS Health provides digital health platforms, virtual care, electronic medical records and workplace health solutions.