TELUS (NYSE:TU) Sets New 52-Week Low – Here’s What Happened

TELUS Corporation (NYSE:TU) (TSE:T)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.67 and last traded at $11.7150, with a volume of 1353507 shares trading hands. The stock had previously closed at $11.79.

Wall Street Analyst Weigh In

Several brokerages recently commented on TU. TD Cowen upgraded TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings downgraded TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Bank of America raised TELUS from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.50 to $16.00 in a report on Tuesday, March 10th. Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, TD Securities raised TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.33.

TELUS Stock Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. The stock has a market capitalization of $18.66 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 11.67 and a beta of 0.61. The company has a fifty day moving average of $12.37 and a two-hundred day moving average of $13.01.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.TELUS’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued a $0.4184 dividend. This represents a $1.67 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Wednesday, June 10th. TELUS’s payout ratio is currently 275.00%.

Institutional Trading of TELUS

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in TELUS by 11.0% in the third quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after acquiring an additional 743,471 shares during the last quarter. Harvest Portfolios Group Inc. lifted its holdings in TELUS by 108.8% in the third quarter. Harvest Portfolios Group Inc. now owns 423,285 shares of the Wireless communications provider’s stock worth $6,667,000 after acquiring an additional 220,552 shares during the last quarter. Vanguard Group Inc. lifted its holdings in TELUS by 4.6% in the third quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock worth $449,748,000 after acquiring an additional 1,255,029 shares during the last quarter. Fiera Capital Corp lifted its holdings in TELUS by 10.7% in the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after acquiring an additional 1,725,982 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in TELUS by 1.5% in the third quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock worth $580,740,000 after acquiring an additional 550,574 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.