National Bank Financial Lifts Earnings Estimates for TELUS

TELUS Co. (NYSE:TU) (TSE:T) – Investment analysts at National Bank Financial raised their FY2024 earnings estimates for TELUS in a research note issued on Sunday, November 10th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will post earnings of $0.73 per share for the year, up from their previous estimate of $0.72. The consensus estimate for TELUS’s current full-year earnings is $0.73 per share.

TU has been the subject of a number of other reports. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, TELUS has an average rating of “Hold” and a consensus target price of $26.00.

TELUS Stock Performance

Shares of TELUS stock opened at $15.69 on Wednesday. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.41 and a beta of 0.75. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $16.12. TELUS has a 1 year low of $14.63 and a 1 year high of $19.14. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.61.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis.

Institutional Trading of TELUS

Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its stake in TELUS by 11.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock worth $20,050,000 after buying an additional 126,488 shares during the last quarter. Toronto Dominion Bank grew its holdings in TELUS by 5.4% in the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock valued at $188,835,000 after purchasing an additional 636,845 shares during the last quarter. Cumberland Partners Ltd increased its holdings in TELUS by 130.4% during the 1st quarter. Cumberland Partners Ltd now owns 56,840 shares of the Wireless communications provider’s stock valued at $910,000 after acquiring an additional 32,170 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in TELUS by 276.3% in the 1st quarter. BNP Paribas Financial Markets now owns 143,688 shares of the Wireless communications provider’s stock valued at $2,300,000 after buying an additional 105,505 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in TELUS in the 2nd quarter valued at about $680,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a dividend of $0.297 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.19 annualized dividend and a yield of 7.57%. TELUS’s dividend payout ratio is presently 244.69%.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.