National Bank Financial Expects Increased Earnings for TELUS

TELUS Co. (NYSE:TU) (TSE:T) – Investment analysts at National Bank Financial boosted their FY2024 EPS estimates for shares of TELUS in a research note issued on Sunday, November 10th. National Bank Financial analyst A. Shine now forecasts that the Wireless communications provider will earn $0.73 per share for the year, up from their prior forecast of $0.72. The consensus estimate for TELUS’s current full-year earnings is $0.78 per share.

A number of other brokerages also recently weighed in on TU. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.00.

TELUS Price Performance

Shares of TELUS stock opened at $15.58 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.61. TELUS has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The firm has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $16.12. The company has a market cap of $23.24 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.75.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.19 EPS. The business’s revenue was up 1.8% on a year-over-year basis.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.63%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS’s dividend payout ratio (DPR) is presently 244.69%.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently made changes to their positions in the company. TD Asset Management Inc increased its position in shares of TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after purchasing an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. increased its position in TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after acquiring an additional 2,365,753 shares in the last quarter. Vanguard Group Inc. increased its position in TELUS by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after acquiring an additional 602,440 shares in the last quarter. CIBC Asset Management Inc increased its position in TELUS by 1.8% in the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider’s stock valued at $338,953,000 after acquiring an additional 387,686 shares in the last quarter. Finally, National Bank of Canada FI increased its position in TELUS by 7.2% in the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider’s stock valued at $345,330,000 after acquiring an additional 1,438,904 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

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.