Cormark Comments on TELUS Co.’s FY2022 Earnings (NYSE:TU)

TELUS Co. (NYSE:TUGet Rating) (TSE:T) – Stock analysts at Cormark raised their FY2022 earnings estimates for shares of TELUS in a research note issued on Monday, May 9th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will earn $0.94 per share for the year, up from their prior estimate of $0.90. Cormark also issued estimates for TELUS’s FY2023 earnings at $1.05 EPS.

TELUS (NYSE:TUGet Rating) (TSE:T) last issued its quarterly earnings data on Friday, May 6th. The Wireless communications provider reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.37 billion. TELUS had a net margin of 9.59% and a return on equity of 8.98%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS.

TU has been the subject of several other research reports. Royal Bank of Canada upped their target price on shares of TELUS from C$32.00 to C$36.00 in a report on Friday, February 11th. TD Securities cut shares of TELUS from a “buy” rating to a “hold” rating in a research note on Monday, March 7th. Barclays cut shares of TELUS from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a research note on Tuesday. Zacks Investment Research cut shares of TELUS from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research note on Tuesday, January 11th. Finally, National Bank Financial boosted their price target on shares of TELUS from C$35.00 to C$36.00 in a research note on Friday, February 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.86.

Shares of TELUS stock opened at $24.08 on Wednesday. The company has a market capitalization of $32.99 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.55 and a current ratio of 0.61. The company has a fifty day moving average of $25.95 and a 200 day moving average of $24.40. TELUS has a fifty-two week low of $21.46 and a fifty-two week high of $27.50.

A number of large investors have recently modified their holdings of the stock. Cumberland Partners Ltd grew its holdings in TELUS by 12.8% during the 1st quarter. Cumberland Partners Ltd now owns 197,445 shares of the Wireless communications provider’s stock valued at $5,163,000 after purchasing an additional 22,355 shares during the last quarter. Community Bank & Trust Waco Texas bought a new position in TELUS in the 1st quarter worth about $276,000. AGF Investments Inc. grew its stake in TELUS by 24.5% in the 1st quarter. AGF Investments Inc. now owns 2,133,873 shares of the Wireless communications provider’s stock worth $55,747,000 after acquiring an additional 420,269 shares in the last quarter. San Luis Wealth Advisors LLC bought a new position in TELUS in the 1st quarter worth about $28,000. Finally, Wrapmanager Inc. grew its stake in TELUS by 4.9% in the 1st quarter. Wrapmanager Inc. now owns 11,887 shares of the Wireless communications provider’s stock worth $311,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 48.44% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 4th. Investors of record on Friday, June 10th will be issued a dividend of $0.263 per share. This represents a $1.05 annualized dividend and a yield of 4.37%. This is an increase from TELUS’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, June 9th. TELUS’s dividend payout ratio is presently 104.04%.

TELUS Company Profile (Get Rating)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network revenue; equipment sales from mobile technologies; data services revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; customer care and business services; healthcare solutions; and home and business security, agriculture, voice, and other telecommunications services.

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Earnings History and Estimates for TELUS (NYSE:TU)

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