TELUS Corporation (NYSE:TU) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Analysts collectively rate TELUS “Reduce”: Four analysts recommend selling, nine advise 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, or $0.75 annualized, representing a 7.8% yield; its shares opened at $9.62 and remain near their 12-month low.

TELUS Corporation (NYSE:TU - Get Free Report) TSE: T has been given a consensus rating of "Reduce" by the sixteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.3333.

A number of brokerages recently weighed in on TU. Royal Bank Of Canada downgraded shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce cut shares of TELUS from a "strong-buy" rating to a "neutral" rating in a research note on Friday, July 31st. Raymond James Financial began coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. Wall Street Zen lowered shares of TELUS from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings cut shares of TELUS from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 5th.

TELUS Stock Up 0.4%

TU stock opened at $9.62 on Wednesday. The company has a market cap of $15.15 billion, a price-to-earnings ratio of -23.48, a P/E/G ratio of 9.42 and a beta of 0.64. TELUS has a twelve month low of $9.20 and a twelve month high of $16.72. The business has a 50 day moving average price of $10.79 and a two-hundred day moving average price of $12.26. 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 data on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.04). The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. Analysts anticipate that TELUS will post 0.57 EPS for the current fiscal year.

TELUS Cuts Dividend

The firm 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. This represents a $0.75 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, September 10th. TELUS's payout ratio is -295.12%.

Institutional Trading of TELUS

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC increased its holdings in shares of TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider's stock worth $30,000 after acquiring an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in TELUS during the 4th quarter valued at $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in TELUS by 129.0% during the fourth 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 bought a new position in TELUS during the second quarter worth $55,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of TELUS in the fourth quarter valued at $55,000. 49.40% of the stock is owned by institutional investors and hedge funds.

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.

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