Analysts Set Expectations for TELUS Co.’s Q1 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Cormark issued their Q1 2024 earnings per share estimates for TELUS in a research report issued on Thursday, April 25th. Cormark analyst D. Mcfadgen forecasts that the Wireless communications provider will post earnings of $0.15 per share for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.76 per share.

TU has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded TELUS from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 4th. BMO Capital Markets decreased their target price on TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $26.00 target price (down from $28.00) on shares of TELUS in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, TELUS has an average rating of “Hold” and a consensus target price of $27.72.

TELUS Stock Performance

NYSE TU opened at $16.07 on Friday. The firm has a market cap of $23.71 billion, a price-to-earnings ratio of 37.36, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $16.61 and a 200-day moving average price of $17.26. TELUS has a twelve month low of $15.35 and a twelve month high of $21.28.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.24 billion. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share.

Institutional Investors Weigh In On TELUS

Hedge funds and other institutional investors have recently modified their holdings of the business. Hanson & Doremus Investment Management bought a new position in TELUS in the first quarter worth approximately $25,000. VisionPoint Advisory Group LLC grew its stake in TELUS by 80.8% in the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in TELUS in the fourth quarter worth approximately $33,000. Gulf International Bank UK Ltd grew its stake in TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock worth $44,000 after purchasing an additional 784 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in TELUS in the fourth quarter worth approximately $49,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.2793 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.95%. This is an increase from TELUS’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 8th. TELUS’s dividend payout ratio is presently 255.81%.

TELUS Company Profile

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 services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.