TELUS (NYSE:TU) Sets New 1-Year Low – Here’s Why

TELUS Corporation (NYSE:TU) (TSE:T)’s share price hit a new 52-week low on Monday . The stock traded as low as $11.40 and last traded at $11.4550, with a volume of 394052 shares trading hands. The stock had previously closed at $11.54.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Scotiabank lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Weiss Ratings downgraded TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Bank of America raised TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.33.

TELUS Stock Performance

The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 11.34 and a beta of 0.61. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The stock’s 50-day simple moving average is $12.28 and its 200 day simple moving average is $12.97.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. TELUS’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Analysts expect that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 14.6%. TELUS’s dividend payout ratio is 275.00%.

Institutional Investors Weigh In On TELUS

Hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC raised its stake in shares of TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $30,000 after acquiring an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC bought a new position in TELUS in the 4th quarter worth approximately $55,000. Finally, State of Wyoming bought a new position in TELUS in the 2nd quarter worth approximately $61,000. Institutional investors own 49.40% of the company’s stock.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.