Q3 Earnings Forecast for TELUS Issued By Cormark (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities researchers at Cormark issued their Q3 2024 EPS estimates for TELUS in a research note issued on Monday, October 21st. Cormark analyst D. Mcfadgen anticipates that the Wireless communications provider will earn $0.16 per share for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.73 per share.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Price Performance

Shares of NYSE:TU opened at $16.17 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $23.86 billion, a PE ratio of 41.45, a P/E/G ratio of 2.48 and a beta of 0.74. TELUS has a twelve month low of $14.63 and a twelve month high of $19.14. The company has a 50-day moving average price of $16.40 and a two-hundred day moving average price of $16.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter in the prior year, the business earned $0.14 earnings per share.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.284 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 7.03%. TELUS’s dividend payout ratio (DPR) is 294.87%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TU. International Assets Investment Management LLC bought a new position in shares of TELUS in the third quarter worth approximately $265,000. Private Advisor Group LLC bought a new position in shares of TELUS in the third quarter worth approximately $187,000. Vest Financial LLC boosted its holdings in TELUS by 40.7% in the third quarter. Vest Financial LLC now owns 44,910 shares of the Wireless communications provider’s stock valued at $754,000 after acquiring an additional 12,991 shares in the last quarter. Raymond James & Associates boosted its holdings in TELUS by 3.2% in the third quarter. Raymond James & Associates now owns 155,212 shares of the Wireless communications provider’s stock valued at $2,604,000 after acquiring an additional 4,822 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in TELUS by 58.0% in the third quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock valued at $67,000 after acquiring an additional 1,468 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Company Profile

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.