Telus Corp. (TU) Sees Large Volume Increase
Telus Corp. (NYSE:TU) saw unusually-strong trading volume on Tuesday . Approximately 286,666 shares traded hands during trading, an increase of 62% from the previous session’s volume of 176,442 shares.The stock last traded at $32.04 and had previously closed at $31.85.
Several equities research analysts have commented on TU shares. Zacks Investment Research lowered Telus Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Canaccord Genuity reiterated a “hold” rating on shares of Telus Corp. in a research note on Friday, August 5th. Barclays PLC boosted their price objective on Telus Corp. from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. TheStreet upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, Desjardins upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Telus Corp. presently has an average rating of “Hold” and an average target price of $40.67.
The firm has a market cap of $18.97 billion, a P/E ratio of 17.71 and a beta of 0.95. The company’s 50 day moving average price is $33.04 and its 200-day moving average price is $32.21.
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Telus Corp. (NYSE:TU) last issued its earnings results on Friday, August 5th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business earned $3.15 billion during the quarter, compared to the consensus estimate of $3.19 billion. Telus Corp. had a return on equity of 19.92% and a net margin of 11.26%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Analysts expect that Telus Corp. will post $2.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.3505 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Wednesday, September 7th. Telus Corp.’s dividend payout ratio (DPR) is 78.33%.
Several institutional investors have recently modified their holdings of TU. NN Investment Partners Holdings N.V. increased its position in shares of Telus Corp. by 0.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 44,142 shares of the company’s stock worth $1,422,000 after buying an additional 121 shares during the period. Carnick & Kubik LLC increased its position in Telus Corp. by 1.4% in the first quarter. Carnick & Kubik LLC now owns 18,726 shares of the company’s stock valued at $609,000 after buying an additional 265 shares during the last quarter. Azimuth Capital Management LLC increased its position in Telus Corp. by 0.9% in the second quarter. Azimuth Capital Management LLC now owns 49,010 shares of the company’s stock valued at $1,578,000 after buying an additional 430 shares during the last quarter. Callahan Advisors LLC increased its position in Telus Corp. by 3.5% in the second quarter. Callahan Advisors LLC now owns 18,175 shares of the company’s stock valued at $585,000 after buying an additional 610 shares during the last quarter. Finally, Lombard Odier & Cie Canada Limited Partnership increased its position in Telus Corp. by 7.5% in the second quarter. Lombard Odier & Cie Canada Limited Partnership now owns 9,800 shares of the company’s stock valued at $314,000 after buying an additional 680 shares during the last quarter. 53.01% of the stock is owned by institutional investors and hedge funds.
About Telus Corp.
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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