Brokerages Set TELUS Co. (TU) Price Target at $46.83

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Shares of TELUS Co. (NYSE:TU) (TSE:T) have been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.83.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered TELUS from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. ValuEngine downgraded TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 19th. CIBC downgraded TELUS from a “sector outperform” rating to a “neutral” rating in a report on Friday, May 11th. Barclays dropped their price objective on TELUS from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 11th. Finally, Echelon Wealth Partners set a $52.00 price objective on TELUS and gave the stock a “buy” rating in a report on Friday, May 11th.

Shares of TELUS stock traded up $0.12 during trading hours on Friday, reaching $36.11. 379,602 shares of the company’s stock were exchanged, compared to its average volume of 368,084. TELUS has a 52-week low of $34.28 and a 52-week high of $38.50. The firm has a market cap of $21.46 billion, a PE ratio of 17.79, a P/E/G ratio of 2.10 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 1.37.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, May 10th. The Wireless communications provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. TELUS had a return on equity of 18.19% and a net margin of 10.65%. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities research analysts anticipate that TELUS will post 2.15 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 3rd. Investors of record on Friday, June 8th were issued a $0.409 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.53%. The ex-dividend date was Thursday, June 7th. TELUS’s dividend payout ratio is currently 79.80%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in TELUS by 2.5% in the 1st quarter. Franklin Resources Inc. now owns 5,607,275 shares of the Wireless communications provider’s stock valued at $196,694,000 after purchasing an additional 134,824 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in TELUS by 1.8% in the 1st quarter. Mawer Investment Management Ltd. now owns 4,711,247 shares of the Wireless communications provider’s stock valued at $165,262,000 after buying an additional 82,967 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in TELUS by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,377,090 shares of the Wireless communications provider’s stock valued at $153,898,000 after buying an additional 11,924 shares during the last quarter. Sentry Investments Corp. boosted its position in TELUS by 105.2% in the 1st quarter. Sentry Investments Corp. now owns 3,135,980 shares of the Wireless communications provider’s stock valued at $141,872,000 after buying an additional 1,607,380 shares during the last quarter. Finally, BlackRock Inc. boosted its position in TELUS by 29.9% in the 1st quarter. BlackRock Inc. now owns 2,606,029 shares of the Wireless communications provider’s stock valued at $91,628,000 after buying an additional 599,173 shares during the last quarter. Hedge funds and other institutional investors own 50.87% of the company’s stock.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

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Analyst Recommendations for TELUS (NYSE:TU)

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