Brokerages Set TELUS Corporation (NYSE:TU) Target Price at $15.67

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.6667.

Several analysts have recently issued reports on TU shares. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Morgan Stanley downgraded TELUS to an “underweight” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TELUS in a report on Friday, July 17th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Institutional Investors Weigh In On TELUS

Institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its holdings in shares of TELUS by 3.0% in the 4th quarter. Mackenzie Financial Corp now owns 33,318,398 shares of the Wireless communications provider’s stock valued at $433,838,000 after purchasing an additional 955,779 shares in the last quarter. FIL Ltd boosted its holdings in TELUS by 112.9% during the fourth quarter. FIL Ltd now owns 30,300,204 shares of the Wireless communications provider’s stock worth $399,352,000 after buying an additional 16,066,539 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TELUS by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock worth $388,415,000 after buying an additional 916,459 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in TELUS by 21.5% during the first quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after buying an additional 4,258,557 shares during the period. Finally, Bank of Nova Scotia grew its position in TELUS by 20.4% during the first quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock worth $271,237,000 after buying an additional 3,571,734 shares during the period. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Stock Up 0.2%

NYSE:TU opened at $10.21 on Friday. TELUS has a 52 week low of $9.95 and a 52 week high of $16.72. The stock’s fifty day moving average is $11.46 and its two-hundred day moving average is $12.59. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 7.79 and a beta of 0.63. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts anticipate that TELUS will post 0.73 EPS for the current year.

TELUS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were issued a $0.4184 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a yield of 16.4%. TELUS’s dividend payout ratio (DPR) is 275.00%.

About TELUS

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.