FY2024 EPS Estimates for TELUS Co. Boosted by Cormark (NYSE:TU)

TELUS Co. (NYSE:TUFree Report) (TSE:T) – Investment analysts at Cormark increased their FY2024 EPS estimates for shares of TELUS in a research report issued to clients and investors on Monday, January 29th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings per share of $0.79 for the year, up from their previous estimate of $0.77. The consensus estimate for TELUS’s current full-year earnings is $0.72 per share.

Several other research firms have also commented on TU. JPMorgan Chase & Co. lowered TELUS from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 4th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. Finally, Bank of America lowered their target price on shares of TELUS from C$33.00 to C$30.00 in a research report on Friday, October 6th.

Check Out Our Latest Report on TELUS

TELUS Price Performance

Shares of TU stock opened at $17.91 on Wednesday. TELUS has a fifty-two week low of $15.47 and a fifty-two week high of $21.82. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 43.68, a PEG ratio of 3.48 and a beta of 0.75. The stock’s 50-day simple moving average is $18.05 and its 200-day simple moving average is $17.45.

TELUS (NYSE:TUGet Free Report) (TSE:T) last issued its quarterly earnings data on Friday, November 3rd. The Wireless communications provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). TELUS had a net margin of 4.01% and a return on equity of 7.65%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.76 billion.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp increased its stake in shares of TELUS by 6.8% in the second quarter. Mackenzie Financial Corp now owns 64,912,751 shares of the Wireless communications provider’s stock valued at $1,263,077,000 after buying an additional 4,127,554 shares during the period. 1832 Asset Management L.P. grew its stake in TELUS by 4.6% during the second quarter. 1832 Asset Management L.P. now owns 30,864,424 shares of the Wireless communications provider’s stock valued at $600,622,000 after acquiring an additional 1,364,319 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TELUS by 1.8% in the third quarter. Vanguard Group Inc. now owns 21,789,027 shares of the Wireless communications provider’s stock worth $356,033,000 after purchasing an additional 387,561 shares during the last quarter. Bank of Nova Scotia grew its position in TELUS by 2.5% in the third quarter. Bank of Nova Scotia now owns 21,630,693 shares of the Wireless communications provider’s stock worth $353,226,000 after acquiring an additional 533,306 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in TELUS by 1.7% in the 3rd quarter. CIBC Asset Management Inc now owns 21,540,649 shares of the Wireless communications provider’s stock worth $352,841,000 after buying an additional 368,650 shares during the last quarter. 49.48% of the stock is currently owned by institutional investors.

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were issued a $0.271 dividend. The ex-dividend date was Friday, December 8th. This represents a $1.08 annualized dividend and a yield of 6.05%. TELUS’s dividend payout ratio is currently 270.74%.

TELUS Company Profile

(Get Free Report)

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; 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.

Further Reading

Earnings History and Estimates for TELUS (NYSE:TU)

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