TELUS Corporation (NYSE:TU) Given Consensus Recommendation of “Reduce” by Analysts

TELUS Corporation (NYSE:TU) (TSE:T) has been assigned a consensus recommendation of “Reduce” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.3333.

A number of research firms have weighed in on TU. Canadian Imperial Bank of Commerce lowered shares of TELUS from a “strong-buy” rating to a “neutral” rating in a research report on Friday, July 31st. Morgan Stanley downgraded shares of TELUS to an “underweight” rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. Finally, National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 4th.

Institutional Trading of TELUS

Large investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TELUS by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock valued at $11,181,000 after acquiring an additional 11,900 shares during the period. Cetera Investment Advisers boosted its stake in shares of TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock worth $739,000 after purchasing an additional 841 shares during the period. Legal & General Group Plc boosted its stake in shares of TELUS by 159.5% during the 2nd quarter. Legal & General Group Plc now owns 37,274 shares of the Wireless communications provider’s stock worth $597,000 after purchasing an additional 22,912 shares during the period. EverSource Wealth Advisors LLC grew its holdings in TELUS by 67.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in TELUS during the 2nd quarter valued at about $3,617,000. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 0.1%

TELUS stock opened at $9.69 on Wednesday. TELUS has a 12 month low of $9.20 and a 12 month high of $16.72. The stock has a fifty day simple moving average of $10.53 and a two-hundred day simple moving average of $12.11. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of -23.62, a PEG ratio of 9.59 and a beta of 0.64.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. Equities analysts predict that TELUS will post 0.57 EPS for the current fiscal year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Thursday, September 10th. TELUS’s dividend payout ratio (DPR) is presently -295.12%.

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.