Cormark Has Positive Outlook of TELUS FY2024 Earnings

TELUS Co. (TSE:T) (NYSE:TU) – Research analysts at Cormark lifted their FY2024 earnings estimates for TELUS in a report released on Monday, November 11th. Cormark analyst D. Mcfadgen now forecasts that the company will post earnings per share of $0.99 for the year, up from their previous estimate of $0.94. The consensus estimate for TELUS’s current full-year earnings is $1.23 per share. Cormark also issued estimates for TELUS’s FY2025 earnings at $0.91 EPS.

T has been the subject of a number of other reports. Scotiabank upgraded TELUS from a “sector perform” rating to an “outperform” rating in a report on Monday, October 28th. BMO Capital Markets upped their price target on TELUS from C$24.00 to C$25.00 in a research note on Thursday, September 5th. CIBC reduced their price objective on TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Canaccord Genuity Group downgraded shares of TELUS from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$23.00 to C$21.50 in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada cut their price target on shares of TELUS from C$26.00 to C$25.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$24.46.

TELUS Stock Performance

TSE:T opened at C$21.34 on Wednesday. The company has a market cap of C$31.58 billion, a P/E ratio of 40.89, a P/E/G ratio of 1.65 and a beta of 0.72. The firm’s 50 day moving average is C$22.32 and its two-hundred day moving average is C$22.06. TELUS has a fifty-two week low of C$20.04 and a fifty-two week high of C$25.94. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.402 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 7.54%. This is a positive change from TELUS’s previous quarterly dividend of $0.39. TELUS’s dividend payout ratio (DPR) is currently 294.34%.

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.