Telus Corp. (TU) Receives $39.67 Consensus Target Price from Brokerages
Shares of Telus Corp. (NYSE:TU) (TSE:T) have earned a consensus rating of “Hold” from the fourteen analysts that are covering the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $39.67.
A number of equities analysts have weighed in on the company. Desjardins raised Telus Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research raised Telus Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Barclays PLC boosted their price objective on Telus Corp. from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Canaccord Genuity reissued a “hold” rating on shares of Telus Corp. in a research note on Friday, August 5th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Telus Corp. in a research note on Monday, November 7th.
Large investors have recently bought and sold shares of the stock. Callahan Advisors LLC increased its stake in Telus Corp. by 3.5% in the second quarter. Callahan Advisors LLC now owns 18,175 shares of the company’s stock valued at $585,000 after buying an additional 610 shares in the last quarter. Bank of Montreal Can purchased a new stake in Telus Corp. during the second quarter valued at about $608,248,000. Shell Asset Management Co. increased its stake in Telus Corp. by 10.1% in the second quarter. Shell Asset Management Co. now owns 496,076 shares of the company’s stock valued at $20,637,000 after buying an additional 45,700 shares in the last quarter. Highstreet Asset Management Inc. increased its stake in Telus Corp. by 0.3% in the second quarter. Highstreet Asset Management Inc. now owns 281,239 shares of the company’s stock valued at $9,053,000 after buying an additional 808 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in Telus Corp. by 0.4% in the second quarter. CIBC World Markets Inc. now owns 10,108,944 shares of the company’s stock valued at $325,508,000 after buying an additional 43,668 shares in the last quarter. Hedge funds and other institutional investors own 54.38% of the company’s stock.
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Shares of Telus Corp. (NYSE:TU) opened at 31.48 on Wednesday. Telus Corp. has a 12 month low of $24.34 and a 12 month high of $34.12. The company has a market cap of $18.60 billion, a P/E ratio of 17.90 and a beta of 0.89. The company’s 50-day moving average price is $31.83 and its 200-day moving average price is $32.40.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Wednesday, December 7th. This is an increase from Telus Corp.’s previous quarterly dividend of $0.35. Telus Corp.’s payout ratio is currently 78.21%.
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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