TELUS Corporation (NYSE:TU) Receives $21.50 Average PT from Brokerages

TELUS Corporation (NYSE:TU) (TSE:T) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.50.

TU has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of TELUS in a research report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th.

TELUS Stock Up 1.8%

TU stock opened at $15.35 on Thursday. TELUS has a twelve month low of $13.24 and a twelve month high of $16.74. The company has a market cap of $23.56 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71. The business’s 50-day simple moving average is $15.97 and its 200 day simple moving average is $15.82. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that TELUS will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were issued a dividend of $0.3019 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 7.9%. TELUS’s dividend payout ratio (DPR) is presently 263.04%.

Institutional Investors Weigh In On TELUS

Institutional investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new stake in TELUS during the second quarter valued at approximately $27,000. Farther Finance Advisors LLC boosted its holdings in shares of TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 971 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after acquiring an additional 667 shares in the last quarter. CWM LLC boosted its holdings in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 2,301 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of TELUS in the 2nd quarter worth approximately $61,000. 49.40% of the stock is owned by institutional investors and hedge funds.

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.