TELUS Co. to Post FY2024 Earnings of $0.68 Per Share, Cormark Forecasts (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Stock analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for TELUS in a research report issued on Tuesday, August 6th. Cormark analyst D. Mcfadgen now forecasts that the Wireless communications provider will earn $0.68 per share for the year, down from their previous forecast of $0.73. The consensus estimate for TELUS’s current full-year earnings is $0.74 per share. Cormark also issued estimates for TELUS’s FY2025 earnings at $0.75 EPS.

Several other brokerages have also recently issued reports on TU. Canaccord Genuity Group cut shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.33.

TELUS Stock Performance

Shares of NYSE:TU remained flat at $16.40 during midday trading on Thursday. The stock had a trading volume of 1,076,819 shares, compared to its average volume of 2,296,861. The business’s 50 day simple moving average is $15.82 and its 200-day simple moving average is $16.44. TELUS has a 52 week low of $14.63 and a 52 week high of $19.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.70. The firm has a market cap of $24.30 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share.

Institutional Investors Weigh In On TELUS

Several institutional investors and hedge funds have recently made changes to their positions in TU. TD Asset Management Inc boosted its stake in TELUS by 3.0% during the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after acquiring an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. increased its position in TELUS by 0.6% in the 1st quarter. 1832 Asset Management L.P. now owns 35,827,980 shares of the Wireless communications provider’s stock valued at $573,606,000 after buying an additional 213,385 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in TELUS by 15.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after buying an additional 3,860,487 shares during the period. Vanguard Group Inc. boosted its holdings in TELUS by 2.6% in the first quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock worth $375,218,000 after acquiring an additional 602,440 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in TELUS by 5.8% in the fourth quarter. Bank of Nova Scotia now owns 22,881,520 shares of the Wireless communications provider’s stock valued at $407,205,000 after acquiring an additional 1,250,827 shares during the period. 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 Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a $0.284 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.14 annualized dividend and a yield of 6.93%. TELUS’s payout ratio is presently 292.32%.

TELUS Company Profile

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.