TELUS (NYSE:TU) Reaches New 52-Week Low – What’s Next?

Shares of TELUS Corporation (NYSE:TU) (TSE:T) reached a new 52-week low on Monday . The stock traded as low as $10.93 and last traded at $10.9550, with a volume of 276621 shares traded. The stock had previously closed at $11.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.50 to $16.00 in a research note on Tuesday, March 10th. Canaccord Genuity Group downgraded shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TD Cowen raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Finally, TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, TELUS currently has a consensus rating of “Hold” and an average target price of $16.33.

TELUS Stock Down 2.1%

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 firm has a 50-day moving average of $12.20 and a 200 day moving average of $12.90. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 10.91 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued a dividend of $0.4184 per share. This represents a $1.67 dividend on an annualized basis and a yield of 15.4%. The ex-dividend date is Wednesday, June 10th. TELUS’s payout ratio is presently 275.00%.

Institutional Trading of TELUS

A number of large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in shares of TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 1,712 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of TELUS in the 4th quarter valued at about $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of TELUS by 129.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,393 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of TELUS in the 4th quarter valued at about $55,000. Finally, State of Wyoming acquired a new stake in TELUS in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

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.