TELUS (NYSE:TU) Sees Large Volume Increase on Strong Earnings

TELUS Co. (NYSE:TUGet Free Report) (TSE:T) saw an uptick in trading volume on Friday following a stronger than expected earnings report. 1,360,191 shares traded hands during mid-day 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, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.65% and a net margin of 4.01%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TU. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. JPMorgan Chase & Co. downgraded TELUS from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 4th.

Check Out Our Latest Report on TELUS

Hedge Funds Weigh In On TELUS

Several institutional investors and hedge funds have recently added to or reduced their stakes in TU. Advisor Group Holdings Inc. increased its position in TELUS by 60.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 14,694 shares of the Wireless communications provider’s stock worth $260,000 after purchasing an additional 5,560 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in TELUS by 36.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 29,093 shares of the Wireless communications provider’s stock worth $761,000 after purchasing an additional 7,737 shares during the period. PNC Financial Services Group Inc. increased its position in TELUS by 59.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,666 shares of the Wireless communications provider’s stock worth $148,000 after purchasing an additional 2,109 shares during the period. Aviva PLC increased its position in TELUS by 156.0% during the 1st quarter. Aviva PLC now owns 479,131 shares of the Wireless communications provider’s stock worth $12,536,000 after purchasing an additional 291,979 shares during the period. Finally, Cetera Investment Advisers acquired a new position in TELUS during the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 49.48% of the company’s stock.

TELUS Price Performance

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 50-day simple moving average of $18.01 and a 200-day simple moving average of $17.41. The company has a market cap of $25.69 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 3.24 and a beta of 0.75.

TELUS Company Profile

(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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