Telus Corp. (TU) Shares Gap Up to $33.37
Telus Corp. (NYSE:TU) gapped up before the market opened on Wednesday . The stock had previously closed at $33.28, but opened at $33.37. Telus Corp. shares last traded at $33.65, with a volume of 63,570 shares changing hands.
A number of equities research analysts have issued reports on TU shares. Canaccord Genuity reaffirmed a “hold” rating on shares of Telus Corp. in a report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Telus Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Barclays PLC increased their price objective on shares of Telus Corp. from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. Finally, TheStreet raised shares of Telus Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.67.
The company has a market capitalization of $19.91 billion and a P/E ratio of 18.40. The stock has a 50 day moving average price of $32.92 and a 200 day moving average price of $31.26.
Telus Corp. (NYSE:TU) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The company earned $3.15 billion during the quarter, compared to analyst estimates of $3.19 billion. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Analysts anticipate that Telus Corp. will post $2.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.3505 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Wednesday, September 7th.
A number of hedge funds and institutional investors recently made changes to their positions in TU. Bridgewater Associates LP increased its position in shares of Telus Corp. by 89.1% in the fourth quarter. Bridgewater Associates LP now owns 528,200 shares of the company’s stock worth $14,548,000 after buying an additional 248,900 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in 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 period. Finally, Trexquant Investment LP boosted its stake in 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 period.
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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