$0.54 EPS Expected for TELUS Corporation (TU) This Quarter
Wall Street brokerages predict that TELUS Corporation (NYSE:TU) (TSE:T) will post earnings per share (EPS) of $0.54 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TELUS Corporation’s earnings, with estimates ranging from $0.49 to $0.57. TELUS Corporation reported earnings of $0.50 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, November 9th.
On average, analysts expect that TELUS Corporation will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $1.99 to $2.20. For the next financial year, analysts forecast that the company will report earnings of $2.27 per share, with EPS estimates ranging from $2.13 to $2.46. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for TELUS Corporation.
TELUS Corporation (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.05). TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.
TU has been the subject of several research reports. Zacks Investment Research raised TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, July 14th. Barclays PLC lifted their target price on TELUS Corporation from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. BMO Capital Markets lifted their target price on TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.50.
Several institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc. grew its stake in shares of TELUS Corporation by 1.9% during the second quarter. TD Asset Management Inc. now owns 25,245,820 shares of the Wireless communications provider’s stock worth $870,297,000 after purchasing an additional 463,218 shares during the period. FMR LLC grew its stake in shares of TELUS Corporation by 1.3% during the second quarter. FMR LLC now owns 21,678,829 shares of the Wireless communications provider’s stock worth $748,428,000 after purchasing an additional 279,046 shares during the period. CIBC Asset Management Inc grew its stake in shares of TELUS Corporation by 4.0% during the second quarter. CIBC Asset Management Inc now owns 8,610,832 shares of the Wireless communications provider’s stock worth $296,931,000 after purchasing an additional 335,124 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of TELUS Corporation by 12.1% during the second quarter. Great West Life Assurance Co. Can now owns 7,486,696 shares of the Wireless communications provider’s stock worth $257,825,000 after purchasing an additional 806,613 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of TELUS Corporation by 73.8% during the second quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after purchasing an additional 2,963,432 shares during the period. 50.56% of the stock is owned by institutional investors and hedge funds.
Shares of TELUS Corporation (NYSE:TU) traded up 0.42% on Tuesday, reaching $36.03. The company had a trading volume of 365,524 shares. The company has a 50-day moving average price of $36.03 and a 200-day moving average price of $34.90. TELUS Corporation has a one year low of $30.31 and a one year high of $36.94. The firm has a market cap of $21.40 billion, a P/E ratio of 20.96 and a beta of 0.89.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a dividend of $0.3884 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.31%. TELUS Corporation’s dividend payout ratio (DPR) is presently 100.00%.
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TELUS Corporation Company Profile
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 (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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