Brokerages Set TELUS Corporation (NYSE:TU) Target Price at $16.33

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.3333.

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Finally, Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.50 to $16.00 in a report on Tuesday, March 10th.

TELUS Price Performance

TU stock opened at $12.56 on Friday. The stock has a market cap of $19.76 billion, a PE ratio of 28.54, a P/E/G ratio of 12.33 and a beta of 0.61. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. TELUS has a 12 month low of $11.69 and a 12 month high of $16.74. The company has a 50-day moving average price of $12.53 and a 200 day moving average price of $13.13.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Equities research analysts anticipate that TELUS will post 0.71 earnings per share for the current year.

TELUS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be issued a $0.4184 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.3%. TELUS’s payout ratio is currently 279.55%.

Institutional Investors Weigh In On TELUS

Large investors have recently modified their holdings of the business. Manchester Capital Management LLC raised its holdings in shares of TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 1,712 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of TELUS in the 4th quarter valued at about $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of TELUS by 129.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of TELUS in the 4th quarter valued at about $55,000. Finally, State of Wyoming bought a new position in shares of TELUS during the 2nd quarter worth approximately $61,000. Institutional investors own 49.40% of the company’s stock.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.