TELUS (NYSE:TU) Reaches New 12-Month Low Following Weak Earnings

TELUS Corporation (NYSE:TU) (TSE:T)’s share price hit a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $9.22 and last traded at $9.4040, with a volume of 4692888 shares trading hands. The stock had previously closed at $10.77.

The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). TELUS had a net margin of 4.54% and a return on equity of 8.29%.

TELUS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were paid a $0.4184 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 18.0%. TELUS’s dividend payout ratio is currently 275.00%.

Analyst Ratings Changes

Several research analysts have recently commented on TU shares. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group downgraded 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 research note on Tuesday, April 28th. Barclays set a $12.00 price target on shares of TELUS and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and a consensus target price of $15.67.

Hedge Funds Weigh In On TELUS

Institutional investors have recently added to or reduced their stakes in the stock. PensionDanmark Pensionsforsikringsaktieselskab increased its position in TELUS by 76.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 199,076 shares of the Wireless communications provider’s stock worth $2,133,000 after purchasing an additional 86,268 shares in the last quarter. Versant Capital Management Inc boosted its position in TELUS by 93.2% in the second quarter. Versant Capital Management Inc now owns 33,363 shares of the Wireless communications provider’s stock valued at $353,000 after buying an additional 16,093 shares in the last quarter. Parallel Advisors LLC boosted its position in TELUS by 2,265.5% in the first quarter. Parallel Advisors LLC now owns 19,586 shares of the Wireless communications provider’s stock valued at $251,000 after buying an additional 18,758 shares in the last quarter. Amundi grew its stake in shares of TELUS by 0.8% during the first quarter. Amundi now owns 1,563,278 shares of the Wireless communications provider’s stock worth $20,057,000 after buying an additional 11,814 shares during the last quarter. Finally, Parvin Asset Management LLC increased its holdings in shares of TELUS by 119.8% during the first quarter. Parvin Asset Management LLC now owns 15,550 shares of the Wireless communications provider’s stock worth $200,000 after buying an additional 8,475 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Down 13.6%

The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 8.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. The firm’s fifty day moving average price is $11.25 and its 200-day moving average price is $12.48.

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.