Cormark Has Bullish Estimate for TELUS FY2024 Earnings

TELUS Co. (TSE:T) (NYSE:TU) – Analysts at Cormark raised their FY2024 earnings estimates for TELUS in a research note issued to investors on Monday, November 11th. Cormark analyst D. Mcfadgen now forecasts that the company will earn $0.99 per share for the year, up from their previous estimate of $0.94. The consensus estimate for TELUS’s current full-year earnings is $1.23 per share. Cormark also issued estimates for TELUS’s FY2025 earnings at $0.91 EPS.

T has been the subject of several other research reports. BMO Capital Markets upped their price target on shares of TELUS from C$24.00 to C$25.00 in a report on Thursday, September 5th. CIBC reduced their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Barclays reduced their target price on shares of TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. TD Securities reduced their target price on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$23.00 to C$21.50 in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$24.46.

TELUS Stock Down 0.3 %

TELUS stock opened at C$21.81 on Wednesday. The stock has a market capitalization of C$32.28 billion, a PE ratio of 41.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. TELUS has a twelve month low of C$20.04 and a twelve month high of C$25.94. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58. The company has a 50 day moving average of C$22.32 and a 200-day moving average of C$22.06.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.402 dividend. The ex-dividend date is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.39. This represents a $1.61 annualized dividend and a dividend yield of 7.37%. TELUS’s dividend payout ratio is presently 294.34%.

About TELUS

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.