TELUS Corporation (NYSE:TU) Receives Consensus Rating of “Hold” from Brokerages

TELUS Corporation (NYSE:TU) (TSE:T) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Two investment 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $16.3333.

TU has been the subject of several research reports. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Securities raised TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Finally, Scotiabank lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th.

TELUS Stock Down 1.8%

TU opened at $11.34 on Tuesday. The stock has a market cap of $17.84 billion, a PE ratio of 25.76, a P/E/G ratio of 11.34 and a beta of 0.61. 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 has a 52 week low of $11.33 and a 52 week high of $16.74. The business’s fifty day simple moving average is $12.27 and its 200 day simple moving average is $12.96.

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

TELUS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be paid a $0.4184 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 14.8%. TELUS’s payout ratio is currently 275.00%.

Institutional Trading of TELUS

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in TELUS by 2,265.5% in the first quarter. Parallel Advisors LLC now owns 19,586 shares of the Wireless communications provider’s stock worth $251,000 after purchasing an additional 18,758 shares during the last quarter. Amundi increased its stake in TELUS by 0.8% in the 1st quarter. Amundi now owns 1,563,278 shares of the Wireless communications provider’s stock worth $20,057,000 after purchasing an additional 11,814 shares during the period. Parvin Asset Management LLC increased its stake in TELUS by 119.8% in the 1st quarter. Parvin Asset Management LLC now owns 15,550 shares of the Wireless communications provider’s stock worth $200,000 after purchasing an additional 8,475 shares during the period. The Manufacturers Life Insurance Company increased its stake in TELUS by 21.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after purchasing an additional 4,258,557 shares during the period. Finally, Quantinno Capital Management LP increased its stake in TELUS by 51.4% in the 1st quarter. Quantinno Capital Management LP now owns 360,212 shares of the Wireless communications provider’s stock worth $4,620,000 after purchasing an additional 122,274 shares during the period. 49.40% of the stock is owned by institutional investors.

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.