TELUS (NYSE:TU) Reaches New 1-Year Low at $21.32

TELUS Co. (NYSE:TUGet Rating) (TSE:T) reached a new 52-week low on Tuesday . The company traded as low as $21.32 and last traded at $21.32, with a volume of 6400 shares changing hands. The stock had previously closed at $21.73.

Analyst Ratings Changes

A number of research firms recently weighed in on TU. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. TD Securities upgraded TELUS from a “hold” rating to a “buy” rating in a report on Friday, June 17th. Scotiabank increased their price objective on TELUS from C$34.00 to C$34.50 in a report on Tuesday, September 6th. Finally, BMO Capital Markets decreased their price target on TELUS from C$37.00 to C$36.00 in a report on Friday, June 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus price target of $34.11.

TELUS Price Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.53 and a current ratio of 0.58. The company has a market cap of $29.36 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.07 and a beta of 0.66. The firm has a 50 day moving average price of $22.60 and a two-hundred day moving average price of $23.98.

TELUS (NYSE:TUGet Rating) (TSE:T) last issued its quarterly earnings data on Friday, August 5th. The Wireless communications provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.45 billion. TELUS had a return on equity of 9.57% and a net margin of 10.35%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, analysts predict that TELUS Co. will post 1.03 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.265 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.06 annualized dividend and a dividend yield of 5.01%. This is a boost from TELUS’s previous quarterly dividend of $0.26. TELUS’s dividend payout ratio (DPR) is presently 97.17%.

Institutional Trading of TELUS

Institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its holdings in shares of TELUS by 17.5% during the 2nd quarter. Mackenzie Financial Corp now owns 46,174,361 shares of the Wireless communications provider’s stock valued at $1,028,448,000 after buying an additional 6,869,752 shares in the last quarter. CIBC Asset Management Inc grew its position in TELUS by 0.4% during the 1st quarter. CIBC Asset Management Inc now owns 25,791,725 shares of the Wireless communications provider’s stock worth $674,559,000 after acquiring an additional 113,279 shares during the last quarter. 1832 Asset Management L.P. grew its position in TELUS by 5.5% during the 1st quarter. 1832 Asset Management L.P. now owns 23,930,522 shares of the Wireless communications provider’s stock worth $617,452,000 after acquiring an additional 1,247,587 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in TELUS by 90.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,160,698 shares of the Wireless communications provider’s stock worth $494,846,000 after acquiring an additional 10,049,604 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in TELUS by 2.4% during the 2nd quarter. Bank of Nova Scotia now owns 20,963,491 shares of the Wireless communications provider’s stock worth $466,903,000 after acquiring an additional 491,101 shares during the last quarter. Hedge funds and other institutional investors own 49.71% of the company’s stock.

TELUS Company Profile

(Get Rating)

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 revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services.

Further Reading

Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.