TELUS (NYSE:TU) Sees Large Volume Increase Following Earnings Beat

TELUS Co. (NYSE:TUGet Free Report) (TSE:T) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 1,360,191 shares were traded during trading, a decline of 37% from the previous session’s volume of 2,164,683 shares.The stock last traded at $17.72 and had previously closed at $17.06.

The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.24 billion. TELUS had a return on equity of 7.65% and a net margin of 4.01%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share.

Analysts Set New Price Targets

TU has been the topic of several research reports. StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. JPMorgan Chase & Co. cut TELUS from an “overweight” rating to a “neutral” rating in a report on Thursday, January 4th.

Read Our Latest Analysis on TELUS

Institutional Trading of TELUS

Several large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in TELUS by 6.8% during the 2nd quarter. Mackenzie Financial Corp now owns 64,912,751 shares of the Wireless communications provider’s stock valued at $1,263,077,000 after purchasing an additional 4,127,554 shares during the period. 1832 Asset Management L.P. raised its stake in TELUS by 4.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 30,864,424 shares of the Wireless communications provider’s stock valued at $600,622,000 after purchasing an additional 1,364,319 shares during the period. Vanguard Group Inc. raised its stake in TELUS by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 21,789,027 shares of the Wireless communications provider’s stock valued at $356,033,000 after purchasing an additional 387,561 shares during the period. Bank of Nova Scotia raised its stake in TELUS by 2.5% during the 3rd quarter. Bank of Nova Scotia now owns 21,630,693 shares of the Wireless communications provider’s stock valued at $353,226,000 after purchasing an additional 533,306 shares during the period. Finally, CIBC Asset Management Inc raised its stake in TELUS by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 21,540,649 shares of the Wireless communications provider’s stock valued at $352,841,000 after purchasing an additional 368,650 shares during the period. 49.48% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Performance

The firm’s 50 day simple moving average is $18.01 and its 200-day simple moving average is $17.41. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.61 and a current ratio of 0.66. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 3.24 and a beta of 0.75.

About TELUS

(Get Free Report)

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; 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.

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