Telus Corp. (TU) Sees Strong Trading Volume
Shares of Telus Corp. (NYSE:TU) saw an uptick in trading volume on Tuesday . 208,675 shares were traded during mid-day trading, an increase of 15% from the previous session’s volume of 181,015 shares.The stock last traded at $32.69 and had previously closed at $33.31.
Several brokerages recently commented on TU. Zacks Investment Research cut Telus Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Canaccord Genuity reiterated a “hold” rating on shares of Telus Corp. in a research note on Tuesday, May 3rd. Finally, National Bank Financial lowered Telus Corp. from an “outperfrom under weight” rating to a “sector perform under weight” rating in a research note on Wednesday, April 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $40.00.
The firm has a market capitalization of $19.43 billion and a P/E ratio of 19.19. The firm’s 50 day moving average price is $32.75 and its 200 day moving average price is $31.01.
Telus Corp. (NYSE:TU) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The company earned $3.11 billion during the quarter, compared to analyst estimates of $3.11 billion. Telus Corp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities research analysts predict that Telus Corp. will post $2.03 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 4th. Investors of record on Friday, June 10th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.84 annualized dividend and a yield of 5.61%. This is an increase from Telus Corp.’s previous quarterly dividend of $0.32.
An institutional investor recently raised its position in Telus Corp. stock. Trexquant Investment LP boosted its stake in shares of Telus Corp. (NYSE:TU) by 35.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,489 shares of the company’s stock after buying an additional 11,987 shares during the period. Trexquant Investment LP’s holdings in Telus Corp. were worth $1,258,000 at the end of the most recent 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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