FY2024 Earnings Estimate for TELUS Co. (NYSE:TU) Issued By National Bank Financial

TELUS Co. (NYSE:TU) (TSE:T) – Equities research analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for shares of TELUS in a research note issued on Tuesday, June 25th. National Bank Financial analyst A. Shine now expects that the Wireless communications provider will post earnings of $0.79 per share for the year, down from their prior estimate of $0.80. The consensus estimate for TELUS’s current full-year earnings is $0.76 per share.

Several other research analysts have also issued reports on the company. Scotiabank reissued a “sector perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a research report on Monday, March 25th. StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.72.

TELUS Stock Performance

Shares of NYSE:TU opened at $15.18 on Friday. TELUS has a 12 month low of $15.10 and a 12 month high of $19.66. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $16.17 and a 200-day moving average price of $16.93. The company has a market cap of $22.41 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. TELUS had a return on equity of 7.90% and a net margin of 3.73%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.73 billion.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in TELUS by 215.8% during the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock valued at $395,314,000 after acquiring an additional 15,179,110 shares during the period. TD Asset Management Inc grew its stake in TELUS by 18.4% during the 4th quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock worth $727,275,000 after buying an additional 6,334,692 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of TELUS in the 4th quarter valued at approximately $109,327,000. Norges Bank purchased a new stake in shares of TELUS during the fourth quarter valued at $82,775,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of TELUS by 15.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after purchasing an additional 3,860,487 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a dividend of $0.282 per share. This represents a $1.13 annualized dividend and a dividend yield of 7.43%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, June 10th. TELUS’s dividend payout ratio (DPR) is presently 289.75%.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.