A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered TELUS from an overweight rating to a neutral rating in a research note on Thursday, January 4th. BMO Capital Markets reduced their price objective on TELUS from $27.00 to $26.00 and set an outperform rating for the company in a research note on Monday.
TELUS Stock Performance
TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.76% and a net margin of 4.18%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that TELUS will post 0.82 earnings per share for the current fiscal year.
TELUS Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a $0.2793 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, March 8th. This is a positive change from TELUS’s previous quarterly dividend of $0.27. TELUS’s payout ratio is currently 258.14%.
Institutional Investors Weigh In On TELUS
Institutional investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC boosted its holdings in shares of TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of TELUS during the 4th quarter worth approximately $33,000. CVA Family Office LLC acquired a new position in shares of TELUS during the 4th quarter worth approximately $49,000. CWM LLC boosted its holdings in shares of TELUS by 104.3% during the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock worth $69,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of TELUS by 18.1% during the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 717 shares during the last quarter. 49.48% of the stock is currently owned by institutional investors and hedge funds.
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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