Telus Corp. (TU) Trading Down 0.7%
Shares of Telus Corp. (NYSE:TU) dropped 0.7% during mid-day trading on Friday . The stock traded as low as $32.81 and last traded at $32.98, with a volume of 92,233 shares changing hands. The stock had previously closed at $33.20.
TU has been the subject of several recent research reports. TD Securities downgraded Telus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 23rd. Zacks Investment Research upgraded Telus Corp. from a “sell” rating to a “hold” rating and set a $36.00 price target for the company in a research note on Monday, April 11th. Canaccord Genuity restated a “hold” rating on shares of Telus Corp. in a research note on Monday, May 16th. Finally, National Bank Financial downgraded Telus Corp. from an “outperfrom under weight” rating to a “sector perform under weight” rating in a research note on Wednesday, April 6th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. Telus Corp. has an average rating of “Hold” and a consensus target price of $40.00.
The company has a 50-day moving average price of $32.00 and a 200-day moving average price of $30.21. The firm has a market capitalization of $19.49 billion and a P/E ratio of 18.91.
Telus Corp. (NYSE:TU) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.07. During the same period last year, the firm earned $0.70 earnings per share. The company earned $3.11 billion during the quarter, compared to the consensus estimate of $3.11 billion. The company’s revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Telus Corp. will post $2.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 4th. Investors of record on Friday, June 10th were given a dividend of $0.46 per share. This is a positive change from Telus Corp.’s previous quarterly dividend of $0.32. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date was Wednesday, June 8th.
Other hedge funds have modified their holdings of the company. Ashfield Capital Partners LLC increased its stake in shares of Telus Corp. by 1.0% in the fourth quarter. Ashfield Capital Partners LLC now owns 40,225 shares of the company’s stock worth $1,112,000 after buying an additional 400 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Telus Corp. by 35.8% in the fourth quarter. Trexquant Investment LP now owns 45,489 shares of the company’s stock worth $1,258,000 after buying an additional 11,987 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Telus Corp. by 17.1% in the fourth quarter. First Trust Advisors LP now owns 539,207 shares of the company’s stock worth $14,909,000 after buying an additional 78,795 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Telus Corp. by 3.6% in the fourth quarter. Shell Asset Management Co. now owns 406,077 shares of the company’s stock worth $15,537,000 after buying an additional 14,144 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its stake in shares of Telus Corp. by 9.0% in the fourth quarter. I.G. Investment Management LTD. now owns 18,726,822 shares of the company’s stock worth $518,071,000 after buying an additional 1,552,410 shares during the last quarter.
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, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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