Telus Corp. (TU) Rating Increased to Hold at Zacks Investment Research
Telus Corp. (NYSE:TU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “TELUS reported mixed financial results in the third quarter of 2016 wherein revenues outpaced the Zacks Consensus Estimate while earnings lagged the same. TELUS continues to benefit from increased penetration of smartphones, higher average revenue per unit, accelerating wireless data services and increasing number of wireline fiber optic networks. The company aims to solidify its foothold in the IoT market , offering seamless connectivity and simplified billing across 200 networks globally, to support the expansion of Canadian business enterprises. However, TELUS faces fierce competition both in the wireless and wireline segment. In the wireless segment, it competes against Rogers Communications and Bell Canada followed by threat from small regional carriers like MTS in Manitoba and SaskTel in Saskatchewan. The wireline side poses threat from cable TV operators such as Shaw Communications and requires capital investments in the broadband infrastructure”
A number of other equities analysts also recently commented on TU. BMO Capital Markets reiterated a “hold” rating on shares of Telus Corp. in a research note on Monday. TheStreet downgraded Telus Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Barclays PLC lifted their target price on Telus Corp. from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Canaccord Genuity restated a “hold” rating on shares of Telus Corp. in a research note on Friday, August 5th. Finally, Desjardins upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Telus Corp. presently has a consensus rating of “Hold” and an average target price of $39.80.
Shares of Telus Corp. (NYSE:TU) opened at 31.07 on Wednesday. Telus Corp. has a 12-month low of $24.34 and a 12-month high of $34.12. The firm has a market cap of $18.39 billion, a PE ratio of 17.48 and a beta of 0.89. The company has a 50 day moving average price of $32.32 and a 200-day moving average price of $32.40.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.48 per share. This is a boost from Telus Corp.’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.92 annualized dividend and a yield of 6.18%. Telus Corp.’s payout ratio is presently 78.21%.
A number of large investors have recently made changes to their positions in TU. Huntington National Bank boosted its stake in shares of Telus Corp. by 36.8% in the third quarter. Huntington National Bank now owns 3,709 shares of the company’s stock valued at $122,000 after buying an additional 998 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of Telus Corp. during the third quarter valued at approximately $152,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Telus Corp. by 1.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,885 shares of the company’s stock valued at $161,000 after buying an additional 60 shares during the last quarter. Kassirer Asset Management Corp purchased a new stake in shares of Telus Corp. during the third quarter valued at approximately $200,000. Finally, Raymond James Trust N.A. boosted its stake in shares of Telus Corp. by 1.8% in the third quarter. Raymond James Trust N.A. now owns 6,329 shares of the company’s stock valued at $209,000 after buying an additional 111 shares during the last quarter. 52.82% of the stock is currently owned by hedge funds and other institutional investors.
Telus Corp. Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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