TELUS Corporation (NYSE:TU) Given Average Recommendation of “Hold” by Brokerages

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.3333.

Several research analysts have recently commented on TU shares. Scotiabank lowered TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its stake in TELUS by 7.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after buying an additional 755 shares during the last quarter. Cetera Investment Advisers lifted its stake in TELUS by 1.9% in the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after buying an additional 841 shares during the last quarter. Walter Public Investments Inc. lifted its stake in TELUS by 2.4% in the first quarter. Walter Public Investments Inc. now owns 36,868 shares of the Wireless communications provider’s stock valued at $474,000 after buying an additional 868 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in TELUS by 2.8% in the fourth quarter. Sanctuary Advisors LLC now owns 31,454 shares of the Wireless communications provider’s stock valued at $415,000 after buying an additional 869 shares during the last quarter. Finally, JCIC Asset Management Inc. lifted its stake in TELUS by 8.1% in the fourth quarter. JCIC Asset Management Inc. now owns 12,670 shares of the Wireless communications provider’s stock valued at $167,000 after buying an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 1.3%

Shares of TU stock opened at $12.55 on Friday. The stock’s fifty day moving average is $12.56 and its two-hundred day moving average is $13.16. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. The firm has a market capitalization of $19.75 billion, a P/E ratio of 28.51, a PEG ratio of 12.18 and a beta of 0.61. TELUS has a fifty-two week low of $11.69 and a fifty-two week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts expect that TELUS will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Wednesday, June 10th. TELUS’s payout ratio is currently 279.55%.

TELUS Company Profile

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.