TELUS Co. to Post Q1 2024 Earnings of $0.15 Per Share, Cormark Forecasts (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities research analysts at Cormark issued their Q1 2024 earnings per share estimates for TELUS in a research report issued on Thursday, April 25th. Cormark analyst D. Mcfadgen anticipates that the Wireless communications provider will post earnings of $0.15 per share for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.76 per share.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year.

TU has been the topic of a number of other reports. JPMorgan Chase & Co. lowered TELUS from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 4th. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. BMO Capital Markets decreased their price target on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Finally, Scotiabank restated a “sector perform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of TELUS in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.72.

TELUS Price Performance

Shares of NYSE:TU opened at $16.11 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. TELUS has a twelve month low of $15.35 and a twelve month high of $21.28. The stock’s 50 day moving average is $16.65 and its 200-day moving average is $17.26. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 1.96 and a beta of 0.72.

Institutional Trading of TELUS

A number of institutional investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC lifted its holdings in TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in TELUS by 39.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock worth $44,000 after purchasing an additional 784 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in TELUS by 7.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,631 shares of the Wireless communications provider’s stock worth $218,000 after purchasing an additional 892 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in TELUS by 5.8% during the 4th quarter. Ingalls & Snyder LLC now owns 18,180 shares of the Wireless communications provider’s stock worth $323,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Value Partners Investments Inc. raised its holdings in shares of TELUS by 7.6% in the 3rd quarter. Value Partners Investments Inc. now owns 14,259 shares of the Wireless communications provider’s stock valued at $234,000 after acquiring an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $0.2793 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Friday, March 8th. This is a boost from TELUS’s previous quarterly dividend of $0.27. TELUS’s dividend payout ratio is currently 258.14%.

About TELUS

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.