TELUS (NYSE:TU) Sets New 12-Month Low – Here’s Why

TELUS Corporation (NYSE:TU) (TSE:T) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.67 and last traded at $11.7150, with a volume of 1353507 shares. The stock had previously closed at $11.79.

Analyst Ratings Changes

TU has been the subject of a number of analyst reports. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Canaccord Genuity Group downgraded TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. Scotiabank downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.33.

TELUS Stock Performance

The firm has a market capitalization of $18.38 billion, a P/E ratio of 26.53, a P/E/G ratio of 11.61 and a beta of 0.61. The stock has a fifty day simple moving average of $12.32 and a two-hundred day simple moving average of $13.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63.

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

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be issued a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date is Wednesday, June 10th. TELUS’s payout ratio is presently 275.00%.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently added to or reduced their stakes in TU. Manchester Capital Management LLC increased its holdings in TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $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 during the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of TELUS by 129.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after acquiring an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of TELUS during the fourth quarter valued at approximately $55,000. Finally, State of Wyoming bought a new stake in shares of TELUS during the second quarter valued at approximately $61,000. 49.40% of the stock is currently owned by institutional investors.

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.