TELUS Corporation (TU) Given Consensus Rating of “Buy” by Analysts
TELUS Corporation (NYSE:TU) (TSE:T) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $43.50.
TU has been the topic of several analyst reports. Zacks Investment Research upgraded TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, July 14th. BidaskClub upgraded shares of TELUS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC upped their price objective on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. BMO Capital Markets upped their price objective on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. Finally, Canaccord Genuity restated a “buy” rating and issued a $47.00 price objective on shares of TELUS Corporation in a research report on Monday, May 8th.
TELUS Corporation (TU) traded up 0.44% during trading on Wednesday, reaching $36.34. 282,770 shares of the company were exchanged. The firm’s 50 day moving average price is $35.87 and its 200-day moving average price is $33.94. The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of 22.06 and a beta of 0.89. TELUS Corporation has a one year low of $30.31 and a one year high of $36.77.
TELUS Corporation (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.05. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that TELUS Corporation will post $2.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.3884 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Thursday, September 7th. TELUS Corporation’s payout ratio is currently 92.41%.
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Large investors have recently added to or reduced their stakes in the company. CGOV Asset Management lifted its stake in TELUS Corporation by 5.3% in the first quarter. CGOV Asset Management now owns 1,737,899 shares of the Wireless communications provider’s stock worth $75,025,000 after acquiring an additional 86,700 shares during the period. Korea Investment CORP purchased a new stake in TELUS Corporation in the first quarter worth $156,000. Janney Montgomery Scott LLC lifted its stake in TELUS Corporation by 25.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,503 shares of the Wireless communications provider’s stock worth $309,000 after acquiring an additional 1,920 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in TELUS Corporation by 10.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 51,816 shares of the Wireless communications provider’s stock worth $1,683,000 after acquiring an additional 4,793 shares during the period. Finally, ING Groep NV purchased a new stake in TELUS Corporation in the first quarter worth $212,000. 51.05% of the stock is owned by hedge funds and other institutional investors.
TELUS Corporation 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 (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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