National Bank Financial Expects Increased Earnings for TELUS

TELUS Co. (NYSE:TU) (TSE:T) – Equities research analysts at National Bank Financial upped their FY2024 earnings estimates for shares of TELUS in a report issued on Sunday, November 10th. National Bank Financial analyst A. Shine now forecasts that the Wireless communications provider will post earnings of $0.73 per share for the year, up from their previous estimate of $0.72. The consensus estimate for TELUS’s current full-year earnings is $0.78 per share.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. TELUS’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS.

A number of other analysts also recently commented on the stock. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Stock Down 0.6 %

TU stock opened at $15.58 on Wednesday. TELUS has a 52 week low of $14.63 and a 52 week high of $19.14. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.75. The firm’s 50-day moving average is $16.31 and its two-hundred day moving average is $16.12. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fairscale Capital LLC acquired a new position in shares of TELUS during the 2nd quarter worth $27,000. Blue Trust Inc. grew its stake in TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after buying an additional 954 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in TELUS in the 1st quarter valued at $58,000. Acadian Asset Management LLC acquired a new position in TELUS in the 2nd quarter valued at $123,000. Finally, Trust Co. of Vermont grew its stake in TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.297 dividend. This represents a $1.19 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio is currently 244.69%.

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.