Brokers Issue Forecasts for TELUS Co.’s Q2 2024 Earnings (TSE:T)

TELUS Co. (TSE:T) (NYSE:TU) – Equities researchers at Cormark issued their Q2 2024 earnings estimates for shares of TELUS in a report issued on Thursday, July 25th. Cormark analyst D. Mcfadgen anticipates that the company will post earnings per share of $0.21 for the quarter. The consensus estimate for TELUS’s current full-year earnings is $1.00 per share.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of TELUS from C$29.00 to C$26.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price target on shares of TELUS from C$24.00 to C$23.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. CIBC reduced their price target on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday, July 8th. Scotiabank reduced their price target on shares of TELUS from C$26.00 to C$24.25 and set a “sector perform” rating for the company in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group reduced their price target on shares of TELUS from C$25.00 to C$23.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$24.87.

TELUS Price Performance

T opened at C$22.13 on Monday. The company has a debt-to-equity ratio of 159.88, a current ratio of 0.67 and a quick ratio of 0.52. The company has a market capitalization of C$32.75 billion, a price-to-earnings ratio of 42.56, a P/E/G ratio of 2.07 and a beta of 0.67. The firm’s fifty day moving average price is C$21.67 and its two-hundred day moving average price is C$22.49. TELUS has a 1 year low of C$20.04 and a 1 year high of C$25.94.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.24 by C$0.02. TELUS had a net margin of 4.20% and a return on equity of 4.96%. The business had revenue of C$4.93 billion during the quarter, compared to the consensus estimate of C$5.06 billion.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were issued a $0.389 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.03%. This is an increase from TELUS’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, June 10th. TELUS’s dividend payout ratio is presently 288.46%.

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.