TELUS Co. to Post Q1 2024 Earnings of $0.15 Per Share, Cormark Forecasts (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities research analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for TELUS in a note issued to investors on Thursday, April 25th. Cormark analyst D. Mcfadgen anticipates that the Wireless communications provider will post earnings of $0.15 per share for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.76 per share.

Several other research firms have also issued reports on TU. Scotiabank reissued a “sector perform” rating and set a $26.00 price target (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered TELUS from an “overweight” rating to a “neutral” rating in a report on Thursday, January 4th. Finally, BMO Capital Markets cut their price target on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.72.

TELUS Stock Performance

Shares of TU opened at $16.11 on Friday. The business has a fifty day moving average of $16.65 and a 200 day moving average of $17.26. TELUS has a one year low of $15.35 and a one year high of $21.28. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.62. The firm has a market capitalization of $23.77 billion, a P/E ratio of 37.45, a PEG ratio of 1.96 and a beta of 0.72.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. TELUS’s revenue was up 2.8% compared to the same quarter last year.

Institutional Investors Weigh In On TELUS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TU. Pinnacle Associates Ltd. raised its position in TELUS by 63.3% during the third quarter. Pinnacle Associates Ltd. now owns 49,000 shares of the Wireless communications provider’s stock valued at $801,000 after purchasing an additional 19,000 shares during the period. Value Partners Investments Inc. grew its stake in shares of TELUS by 7.6% during the third quarter. Value Partners Investments Inc. now owns 14,259 shares of the Wireless communications provider’s stock valued at $234,000 after buying an additional 1,010 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of TELUS by 1.7% during the third quarter. CIBC Asset Management Inc now owns 21,540,649 shares of the Wireless communications provider’s stock valued at $352,841,000 after buying an additional 368,650 shares during the last quarter. Lorne Steinberg Wealth Management Inc. bought a new position in TELUS in the third quarter worth approximately $3,908,000. Finally, K.J. Harrison & Partners Inc grew its stake in TELUS by 26.7% in the third quarter. K.J. Harrison & Partners Inc now owns 275,460 shares of the Wireless communications provider’s stock worth $4,519,000 after purchasing an additional 58,000 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $0.2793 per share. The ex-dividend date was Friday, March 8th. This is an increase from TELUS’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 6.94%. TELUS’s dividend payout ratio is 258.14%.

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.