Zacks Investment Research lowered shares of TELUS Corporation (NYSE:TU) (TSE:T) from a hold rating to a sell rating in a report released on Monday morning.
According to Zacks, “TELUS faces fierce competition in both the wireless and wireline segments. At the wireless segment, it competes against Rogers Communications and Bell Canada and also faces threat from small regional carriers. Cable TV operators such as Shaw Communications pose threat on the wireline side. On the flip side, Buyout of Voxpro will expand TELUS International's U.S. track. Moreover, TELUS continues to benefit from increased penetration of smartphones, higher average revenue per unit, accelerating wireless data services and growing wireline fiber optic networks. The company has consolidated its foothold in the Internet of Things (IoT) market and is focusing on its PureFibre network business. Over the past three months, shares of TELUS inched up 2.2% beating the industry's growth of 0.1%.”
A number of other brokerages have also weighed in on TU. BidaskClub upgraded shares of TELUS Corporation from a hold rating to a buy rating in a research report on Tuesday, June 20th. BMO Capital Markets raised their target price on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an outperform rating in a report on Monday, August 14th. Finally, Barclays PLC raised their target price on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an overweight rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. TELUS Corporation presently has a consensus rating of Buy and a consensus target price of $43.50.
Shares of TELUS Corporation (NYSE TU) opened at 36.13 on Monday. TELUS Corporation has a 1-year low of $30.31 and a 1-year high of $36.94. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of 21.02 and a beta of 0.89. The firm has a 50-day moving average of $36.05 and a 200 day moving average of $34.79.
TELUS Corporation (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Equities research analysts forecast that TELUS Corporation will post $2.14 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a $0.3884 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.55 annualized dividend and a dividend yield of 4.30%. TELUS Corporation’s dividend payout ratio (DPR) is presently 100.00%.
Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of TELUS Corporation by 237.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock worth $130,000 after acquiring an additional 2,662 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in TELUS Corporation in the 2nd quarter worth about $156,000. Perkins Coie Trust Co purchased a new position in TELUS Corporation in the 2nd quarter worth about $173,000. Kassirer Asset Management Corp purchased a new position in TELUS Corporation in the 2nd quarter worth about $209,000. Finally, Wells Fargo & Company MN increased its stake in TELUS Corporation by 38.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock worth $226,000 after buying an additional 1,833 shares during the period. Hedge funds and other institutional investors own 50.73% of the company’s stock.
TELUS Corporation Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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