Telus Corp. (TU) Sees Strong Trading Volume
Telus Corp. (NYSE:TU) saw an uptick in trading volume on Wednesday . 154,481 shares were traded during trading, a decline of 17% from the previous session’s volume of 185,073 shares.The stock last traded at $33.15 and had previously closed at $32.96.
Several brokerages have recently commented on TU. Canaccord Genuity reissued a “hold” rating on shares of Telus Corp. in a report on Tuesday, May 3rd. Zacks Investment Research lowered Telus Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. National Bank Financial lowered Telus Corp. from an “outperfrom under weight” rating to a “sector perform under weight” rating in a report on Wednesday, April 6th. Finally, TD Securities lowered Telus Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.00.
The company has a market capitalization of $19.74 billion and a PE ratio of 19.22. The firm’s 50 day moving average is $31.94 and its 200 day moving average is $30.19.
Telus Corp. (NYSE:TU) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by $0.07. The firm earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts forecast that Telus Corp. will post $2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 4th. Stockholders of record on Friday, June 10th were paid a $0.46 dividend. This is an increase from Telus Corp.’s previous quarterly dividend of $0.32. This represents a $1.84 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Wednesday, June 8th.
Several hedge funds and institutional investors recently bought and sold shares of TU. I.G. Investment Management LTD. increased its position 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 valued at $518,071,000 after buying an additional 1,552,410 shares during the period. Mawer Investment Management Ltd. increased its stake in shares of Telus Corp. by 1.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,735,615 shares of the company’s stock valued at $158,391,000 after buying an additional 93,486 shares during the period. 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 valued at $14,909,000 after buying an additional 78,795 shares during the period. 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 valued at $15,537,000 after buying an additional 14,144 shares during the period. Finally, 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 valued at $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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