TELUS Corporation (NYSE:TU) Stock Has Average Price Target of $15.33 According to Analysts

TELUS Corporation (NYSE:TU) (TSE:T) has received a consensus recommendation of “Reduce” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.33.

A number of equities analysts have weighed in on TU shares. Desjardins downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Scotiabank reissued a “sector perform” rating on shares of TELUS in a research note on Monday, August 3rd. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Royal Bank Of Canada lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Finally, Barclays set a $11.00 target price on TELUS and gave the company an “equal weight” rating in a report on Tuesday, August 4th.

Institutional Trading of TELUS

A number of institutional investors have recently modified their holdings of TU. Cidel Asset Management Inc. purchased a new position in TELUS in the second quarter valued at approximately $171,000. NewEdge Advisors LLC lifted its position in TELUS by 1,396,900.0% during the second quarter. NewEdge Advisors LLC now owns 27,940 shares of the Wireless communications provider’s stock valued at $295,000 after buying an additional 27,938 shares in the last quarter. Nykredit A S acquired a new position in TELUS during the second quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. grew its stake in TELUS by 83.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,305 shares of the Wireless communications provider’s stock worth $162,000 after buying an additional 6,967 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in TELUS during the second quarter worth approximately $480,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Trading Down 1.9%

Shares of TU stock opened at $8.04 on Thursday. The firm has a market cap of $12.77 billion, a P/E ratio of -19.60, a PEG ratio of 18.84 and a beta of 0.65. TELUS has a 1-year low of $8.03 and a 1-year high of $15.73. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62. The firm’s 50-day simple moving average is $9.43 and its 200-day simple moving average is $11.07.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%.The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, equities analysts forecast that TELUS will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a C$0.19 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.75 annualized dividend and a dividend yield of 9.3%. This is a decrease from TELUS’s previous quarterly dividend of C$0.42. TELUS’s dividend payout ratio is presently -131.71%.

TELUS Company Profile

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Through its TELUS Communications business, the company provides wireless and wireline telecommunications services, including mobile voice and data, high-speed internet, television, home security, and business communications solutions.

TELUS also operates technology-focused businesses serving customers in Canada and international markets. TELUS Health provides digital health platforms, virtual care, employee assistance, and related healthcare services.