TELUS Receives Neutral Rating from Zacks (TU)
TELUS (NYSE:TU)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday. They currently have a $40.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 4.88% from the stock’s previous close.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on Telus. We believe the company has strong prospects in the Wireless segment backed by technology upgrades, extensive rollout of smartphones, post-paid plans and expansion of the 4G LTE network. The company’s investments in Optik TV and Internet business are expected to reap results for its Wireline segment. Further, the introduction of shared data plans, Customer First strategy and solid shareholder returns will likely work in favor of the stock. However, these positives are somewhat mitigated by continuous access lines erosion. In addition, heightened competition from national as well as regional players and loss of prepaid subscribers are major impediments that need to be addressed in the coming days. The stock is already trading close to its 52-week high mark, providing limited upward potential.”
Several other analysts have also recently commented on the stock. Analysts at TD Securities downgraded shares of TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. They now have a $45.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of TELUS from C$39.00 to C$40.00 in a research note on Friday, May 9th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of TELUS from C$41.00 to C$42.00 in a research note on Friday, May 9th. They now have an “overweight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $40.75.
Shares of TELUS (NYSE:TU) traded down 0.84% during mid-day trading on Thursday, hitting $37.82. The stock had a trading volume of 147,108 shares. TELUS has a 1-year low of $28.15 and a 1-year high of $38.76. The stock has a 50-day moving average of $37.27 and a 200-day moving average of $35.27. The company has a market cap of $23.411 billion and a price-to-earnings ratio of 20.14.
TELUS (NYSE:TU) last released its earnings data on Friday, May 9th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.01. Analysts expect that TELUS will post $2.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.3468 per share. This represents a $1.39 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, June 6th.
TELUS Corporation (NYSE:TU), incorporated on October 26, 1998, is a telecommunications companies, providing a range of telecommunications products and services products including wireless, data, Internet protocol, voice and television.
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