TELUS Corporation (NYSE:TU) (TSE:T) had its target price hoisted by BMO Capital Markets from $46.00 to $47.00 in a research note issued to investors on Monday morning. BMO Capital Markets currently has an outperform rating on the Wireless communications provider’s stock.
TU has been the topic of several other research reports. Canaccord Genuity restated a buy rating and issued a $47.00 price objective on shares of TELUS Corporation in a research note on Monday, May 8th. BidaskClub lowered TELUS Corporation from a strong-buy rating to a buy rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research upgraded TELUS Corporation from a sell rating to a hold rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. TELUS Corporation has a consensus rating of Buy and an average target price of $43.50.
Shares of TELUS Corporation (TU) opened at 35.33 on Monday. TELUS Corporation has a 12-month low of $30.31 and a 12-month high of $36.77. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 21.22 and a beta of 0.89. The firm has a 50-day moving average price of $35.54 and a 200-day moving average price of $33.74.
TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.05. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. TELUS Corporation’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities research analysts anticipate that TELUS Corporation will post $2.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a $0.3884 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS Corporation’s payout ratio is 92.41%.
Several institutional investors have recently bought and sold shares of the stock. Scotia Capital Inc. increased its position in TELUS Corporation by 4.0% in the second quarter. Scotia Capital Inc. now owns 2,232,103 shares of the Wireless communications provider’s stock valued at $77,066,000 after buying an additional 85,659 shares during the last quarter. Capital Innovations LLC purchased a new position in TELUS Corporation during the second quarter valued at approximately $317,000. Bank of Nova Scotia increased its position in TELUS Corporation by 10.0% in the second quarter. Bank of Nova Scotia now owns 3,274,950 shares of the Wireless communications provider’s stock valued at $114,104,000 after buying an additional 298,363 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in TELUS Corporation by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,907 shares of the Wireless communications provider’s stock valued at $860,000 after buying an additional 237 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in TELUS Corporation during the second quarter valued at approximately $264,000. 52.66% of the stock is currently owned by institutional investors.
TELUS Corporation Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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