TELUS Co. (NYSE: TU) Receives Average ‘Buy’ Recommendation from Brokerages
TELUS Co. (NYSE: TU) (TSE: T) has been given an average rating of “Buy” by the twelve brokerages that currently cover the company, reports Marketbeat Ratings. Three investment analysts rated the stock with a hold recommendation and eight issued a buy recommendation on the company. The one-year average price target among analysts who updated their stock coverage in the past year is $ 29.70.
Several analysts weighed on TU stocks. Morgan Stanley downgraded TELUS from an “overweight” rating to an “equal weight” rating and set a price target of $ 29.00 for the company. in a research report on Friday, July 16. CIBC reduced its target price on TELUS from C $ 30.00 to C $ 29.00 and established a “superior performance” rating for the company in a report released on Tuesday, August 3. TD Securities raised its price target on TELUS from C $ 31.00 to C $ 33.00 and assigned a “buy” rating to the stock in a research note on Monday August 23. Zacks Investment Research upgraded TELUS from a “sell” rating to a “maintain” rating and set a target price of $ 25.00 on the stock in a research note on Monday, August 2. Finally, Desjardins raised its price target on TELUS from C $ 29.25 to C $ 30.00 and assigned a “buy” rating to the stock in a research note on Wednesday, August 4.
Several institutional investors have recently increased or reduced their holdings in the stock. Parametric Portfolio Associates LLC increased its position in TELUS shares by 7.1% during the second quarter. Parametric Portfolio Associates LLC now owns 429,779 shares of the wireless communications provider valued at $ 9,640,000 after purchasing an additional 28,585 shares in the last quarter. Guardian Capital Advisors LP increased its stake in TELUS by 0.6% in the second quarter. Guardian Capital Advisors LP now owns 739,783 shares of the wireless communications provider valued at $ 16,662,000 after acquiring 4,582 additional shares during the period. Invesco Ltd. increased its holdings in TELUS by 27.8% in the second quarter. Invesco Ltd. now owns 7,524,138 shares of the wireless communications provider valued at $ 168,766,000 after acquiring an additional 1,636,071 shares during the period. Millennium Management LLC increased its stake in TELUS by 26.7% in the second quarter. Millennium Management LLC now owns 481,766 shares of the wireless communications provider valued at $ 10,806,000 after acquiring an additional 101,545 shares during the period. Finally, Man Group plc increased its stake in TELUS by 17.6% in the second quarter. Man Group plc now owns 464,221 shares of the wireless communications provider valued at $ 10,414,000 after acquiring an additional 69,643 shares during the period. 48.90% of the shares are currently held by institutional investors.
NYSE: TU opened at $ 22.53 on Friday. The company has a debt to equity ratio of 1.15, a quick ratio of 0.88, and a current ratio of 0.94. The company has a market cap of $ 30.53 billion, a price / earnings ratio of 31.29, a PEG ratio of 3.32 and a beta of 0.67. TELUS has a 52-week minimum of $ 16.87 and a 52-week maximum of $ 23.67. The company has a 50-day moving average of $ 22.62 and a 200-day moving average of $ 21.91.
TELUS (NYSE: TU) (TSE: T) last released its results on Thursday, July 29. The wireless communications provider reported earnings per share (EPS) of $ 0.26 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.21 of $ 0.05. The company posted revenue of $ 4.11 billion in the quarter, compared to $ 4.07 billion according to analysts’ estimates. TELUS achieved a return on equity of 9.58% and a net margin of 7.63%. TELUS ‘revenues for the quarter increased 10.3% year over year. In the same quarter of the previous year, the company made a profit of $ 0.25 per share. Analysts on the seller’s side predict that TELUS will post 0.86 EPS for the current year.
The firm also recently unveiled a quarterly dividend, which will be paid on Friday, October 1. Investors of record on Friday, September 10 will receive a dividend of $ 0.254 per share. The ex-dividend date of this dividend is Thursday, September 9. This represents an annualized dividend of $ 1.02 and a dividend yield of 4.51%. TELUS ‘dividend payout ratio (DPR) is currently 126.58%.
TELUS Corp. is a telecommunications company. The company specializes in telecommunications products and services, primarily for wireless and wired voice and data. It operates through the following segments: wireless and wired. The Wireless segment refers to data and voice products for mobile technologies.
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