TELUS Co. (NYSE:TU) Given Average Recommendation of "Hold" by Brokerages

TELUS Co. (NYSE:TU - Get Free Report) TSE: T has earned a consensus rating of "Hold" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.50.

TU has been the topic of several research analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Canaccord Genuity Group increased their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Finally, Wall Street Zen raised TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th.

TELUS Trading Down 0.2%

Shares of TU stock traded down $0.03 on Monday, reaching $16.00. 2,396,331 shares of the stock were exchanged, compared to its average volume of 2,910,636. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The stock has a market cap of $24.22 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The firm has a 50 day moving average of $14.86 and a two-hundred day moving average of $14.83. TELUS has a 1-year low of $13.24 and a 1-year high of $17.27.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is currently 201.75%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in TELUS by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after purchasing an additional 9,068,181 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of TELUS by 196.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,836,479 shares of the Wireless communications provider's stock valued at $169,735,000 after buying an additional 7,840,264 shares during the last quarter. Bank of Nova Scotia lifted its holdings in TELUS by 28.3% in the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after acquiring an additional 6,659,564 shares during the last quarter. Norges Bank bought a new position in TELUS in the fourth quarter worth about $70,212,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of TELUS by 9.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 22,899,251 shares of the Wireless communications provider's stock valued at $328,588,000 after purchasing an additional 1,938,521 shares during the last quarter. Institutional investors own 49.40% of the company's stock.

TELUS Company Profile

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.