TELUS Corporation (NYSE:TU) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• TELUS Corporation has received a consensus rating of "Hold" from seven brokerages, with six rating the stock as hold and one as buy. The average price target is set at $21.50.
• The company reported a quarterly earnings of $0.16 per share, missing estimates by $0.01, but revenue increased by 2.2% year-over-year to $3.74 billion.
• TELUS has announced a dividend increase to $0.3019 per share, yielding 7.4%, with the latest dividend set to be paid on October 1st.

TELUS Corporation (NYSE:TU - Get Free Report) TSE: T has received an average rating of "Hold" from the seven research firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.50.

Several brokerages have commented on TU. Scotiabank restated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Canaccord Genuity Group increased their target price on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday, May 12th.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently bought and sold shares of the business. Orion Porfolio Solutions LLC grew its stake in TELUS by 9.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 38,064 shares of the Wireless communications provider's stock valued at $611,000 after purchasing an additional 3,213 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in TELUS during the 2nd quarter valued at approximately $172,000. Advisory Services Network LLC grew its stake in TELUS by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 23,555 shares of the Wireless communications provider's stock valued at $379,000 after purchasing an additional 1,834 shares in the last quarter. State of Wyoming acquired a new stake in TELUS during the 2nd quarter valued at approximately $61,000. Finally, Corient Private Wealth LLC grew its stake in TELUS by 172.1% during the 2nd quarter. Corient Private Wealth LLC now owns 33,996 shares of the Wireless communications provider's stock valued at $546,000 after purchasing an additional 21,502 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Trading Up 0.4%

NYSE:TU traded up $0.07 on Wednesday, hitting $16.51. 2,678,941 shares of the stock were exchanged, compared to its average volume of 2,945,915. The stock has a market cap of $25.17 billion, a PE ratio of 35.88, a PEG ratio of 4.85 and a beta of 0.73. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a fifty day moving average of $16.27 and a 200-day moving average of $15.64. TELUS has a fifty-two week low of $13.24 and a fifty-two week high of $17.26.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts expect that TELUS will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.3019 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.3%. This is an increase from TELUS's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. TELUS's payout ratio is 263.04%.

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.