Analysts Set Expectations for TELUS Co.’s Q3 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities researchers at Desjardins dropped their Q3 2024 earnings per share estimates for TELUS in a research report issued to clients and investors on Tuesday, August 6th. Desjardins analyst J. Dubreuil now forecasts that the Wireless communications provider will earn $0.17 per share for the quarter, down from their prior estimate of $0.18. The consensus estimate for TELUS’s current full-year earnings is $0.74 per share.

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

TELUS Stock Performance

Shares of NYSE TU opened at $16.40 on Thursday. 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 1.46, a current ratio of 0.66 and a quick ratio of 0.70. The business’s 50 day moving average is $15.82 and its two-hundred day moving average is $16.44. The stock has a market capitalization of $24.30 billion, a P/E ratio of 42.05, a PEG 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 the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.14 EPS.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a $0.284 dividend. This represents a $1.14 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio is 292.32%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc grew its stake in TELUS by 3.0% in 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 purchasing an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of TELUS by 0.6% during the 1st quarter. 1832 Asset Management L.P. now owns 35,827,980 shares of the Wireless communications provider’s stock worth $573,606,000 after buying an additional 213,385 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of TELUS by 15.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock valued at $511,646,000 after buying an additional 3,860,487 shares during the period. Vanguard Group Inc. raised its holdings in shares of TELUS by 2.6% in the first quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after acquiring an additional 602,440 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of 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 in the last quarter. 49.40% of the stock is currently owned by institutional investors.

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.