TELUS Corporation (TU) Receives $45.00 Average Target Price from Analysts
Shares of TELUS Corporation (NYSE:TU) (TSE:T) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.00.
TU has been the topic of several research analyst reports. BidaskClub lowered TELUS Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, July 14th. BMO Capital Markets upped their price objective on TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Barclays PLC upped their price objective on TELUS Corporation from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 14th.
Shares of TELUS Corporation (NYSE:TU) traded down 0.86% on Thursday, hitting $35.68. The stock had a trading volume of 515,163 shares. TELUS Corporation has a one year low of $30.31 and a one year high of $36.94. The stock has a market capitalization of $21.19 billion, a PE ratio of 20.76 and a beta of 0.89. The firm’s 50 day moving average is $36.04 and its 200-day moving average is $34.82.
TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. TELUS Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities research analysts expect that TELUS Corporation will post $2.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.3884 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.55 annualized dividend and a yield of 4.35%. TELUS Corporation’s dividend payout ratio is 100.00%.
A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of TELUS Corporation by 237.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 2,662 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of TELUS Corporation in the second quarter valued at approximately $156,000. Perkins Coie Trust Co acquired a new position in shares of TELUS Corporation in the second quarter valued at approximately $173,000. Kassirer Asset Management Corp acquired a new position in shares of TELUS Corporation in the second quarter valued at approximately $209,000. Finally, Wells Fargo & Company MN grew its position in shares of TELUS Corporation by 38.9% in the second quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock valued at $226,000 after purchasing an additional 1,833 shares during the last quarter. Hedge funds and other institutional investors own 50.73% of the company’s stock.
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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