TELUS (NYSE:TU) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• TELUS reported earnings of $0.16 per share, missing analysts' expectations by $0.01, with revenues of $3.74 billion surpassing the forecast of $3.63 billion.
• The company announced a quarterly dividend increase to $0.2989, representing a 7.7% yield and a payout ratio of 212.28%.
• Institutional investment in TELUS has grown, with UBS Asset Management increasing its stake by 1.5%, indicating continued confidence among investors.

TELUS (NYSE:TU - Get Free Report) TSE: T announced its earnings results on Friday. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01), Zacks reports. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.63 billion. TELUS had a net margin of 5.78% and a return on equity of 9.11%. TELUS's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share.

TELUS Price Performance

NYSE:TU traded down $0.50 during trading hours on Friday, hitting $15.60. The company's stock had a trading volume of 5,098,545 shares, compared to its average volume of 2,982,687. The stock has a fifty day simple moving average of $16.24 and a 200-day simple moving average of $15.37. The company has a market capitalization of $23.79 billion, a P/E ratio of 33.91, a PEG ratio of 4.73 and a beta of 0.73. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59. TELUS has a twelve month low of $13.24 and a twelve month high of $17.26.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were paid a $0.2989 dividend. This represents a $1.20 annualized dividend and a yield of 7.7%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, June 10th. TELUS's payout ratio is 212.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TU shares. Scotiabank restated an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. Canaccord Genuity Group raised their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, National Bankshares restated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $21.50.

Hedge Funds Weigh In On TELUS

An institutional investor recently raised its position in TELUS stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779,692 shares of the Wireless communications provider's stock after acquiring an additional 11,900 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.05% of TELUS worth $11,181,000 as of its most recent filing with the Securities & Exchange Commission. 49.40% of the stock is currently owned by institutional investors.

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.

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