TELUS Corporation (NYSE:TU) Given Average Rating of "Reduce" by Brokerages

Key Points

• TELUS has an average “Reduce” rating from 16 analysts: four recommend selling, nine recommend holding, and three recommend buying. The average 12-month price target is $15.33.
• TELUS reported quarterly EPS of $0.12, below the $0.16 consensus estimate, while revenue of $3.47 billion also missed expectations of $3.55 billion.
• The company declared a quarterly dividend of $0.1875 per share, equivalent to an annualized $0.75 and a 7.7% yield; shares opened at $9.68, near their 52-week low of $9.20.

TELUS Corporation (NYSE:TU - Get Free Report) TSE: T has been assigned an average recommendation of "Reduce" from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.3333.

TU has been the topic of a number of recent analyst reports. TD Securities reaffirmed a "buy" rating on shares of TELUS in a research report on Monday, August 3rd. Desjardins cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of TELUS from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Royal Bank Of Canada cut TELUS from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, August 4th. Finally, Barclays set a $11.00 target price on TELUS and gave the company an "equal weight" rating in a report on Tuesday, August 4th.

TELUS Price Performance

TU stock opened at $9.68 on Friday. The business has a 50 day moving average price of $10.06 and a 200 day moving average price of $11.74. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of -23.61, a PEG ratio of 13.24 and a beta of 0.63. TELUS has a fifty-two week low of $9.20 and a fifty-two week high of $16.65. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.88.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Equities research analysts anticipate that TELUS will post 0.24 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 7.7%. TELUS's payout ratio is -295.12%.

Institutional Investors Weigh In On TELUS

Large investors have recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings 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. Nykredit A S purchased a new stake in TELUS in the 2nd quarter valued at $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in TELUS by 129.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 1,393 shares during the period. Trust Co. of Vermont acquired a new stake in TELUS during the 2nd quarter worth $55,000. Finally, Kestra Advisory Services LLC purchased a new position in TELUS during the 4th quarter worth $55,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Company Profile

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.

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