TELUS Corporation (NYSE:TU) Stock Has Average Price Target of $15.33 According to Analysts

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have earned a consensus rating of “Reduce” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.33.

TU has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce downgraded shares of TELUS from a “strong-buy” rating to a “neutral” rating in a research report on Friday, July 31st. TD Securities reaffirmed a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Royal Bank Of Canada downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 4th. Desjardins lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TU. The Manufacturers Life Insurance Company grew its stake in shares of TELUS by 21.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock valued at $309,159,000 after buying an additional 4,258,557 shares in the last quarter. Bank of Nova Scotia lifted its position in TELUS by 20.4% during the 1st quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock worth $271,237,000 after acquiring an additional 3,571,734 shares in the last quarter. First Trust Advisors LP lifted its position in TELUS by 5.2% during the 1st quarter. First Trust Advisors LP now owns 9,844,098 shares of the Wireless communications provider’s stock worth $126,343,000 after acquiring an additional 486,043 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in TELUS by 2.2% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock worth $89,416,000 after acquiring an additional 148,325 shares during the period. Finally, Norges Bank purchased a new position in TELUS in the 4th quarter worth approximately $83,707,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

TU stock opened at $7.88 on Thursday. The company has a market cap of $12.52 billion, a PE ratio of -19.22, a price-to-earnings-growth ratio of 18.84 and a beta of 0.65. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The stock has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $11.01. TELUS has a 12-month low of $7.85 and a 12-month high of $15.63.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. As a group, research analysts predict that TELUS will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a C$0.19 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 9.5%. This is a decrease from TELUS’s previous quarterly dividend of C$0.42. TELUS’s payout ratio is currently -131.71%.

About TELUS

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Through its TELUS Communications business, the company provides wireless and wireline telecommunications services, including mobile voice and data, high-speed internet, television, home security, and business communications solutions.

TELUS also operates technology-focused businesses serving customers in Canada and international markets. TELUS Health provides digital health platforms, virtual care, employee assistance, and related healthcare services.