Cormark Has Bullish Outlook for TELUS FY2024 Earnings

TELUS Co. (NYSE:TU) (TSE:T) – Equities researchers at Cormark increased their FY2024 earnings per share estimates for TELUS in a research report issued on Monday, November 11th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings of $0.71 per share for the year, up from their prior estimate of $0.68. The consensus estimate for TELUS’s current full-year earnings is $0.78 per share.

Several other equities research analysts also recently commented on the company. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Stock Down 0.6 %

TU stock opened at $15.58 on Thursday. The stock’s 50 day simple moving average is $16.31 and its 200 day simple moving average is $16.12. The company has a market cap of $23.24 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 0.69. TELUS has a fifty-two week low of $14.63 and a fifty-two week high of $19.14.

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

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a $0.297 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS’s dividend payout ratio is presently 244.69%.

Hedge Funds Weigh In On TELUS

Hedge funds have recently modified their holdings of the company. Gold Investment Management Ltd. boosted its holdings in shares of TELUS by 0.7% in the 2nd quarter. Gold Investment Management Ltd. now owns 93,275 shares of the Wireless communications provider’s stock worth $1,412,000 after buying an additional 641 shares during the last quarter. Walter Public Investments Inc. increased its stake in shares of TELUS by 1.8% during the 2nd quarter. Walter Public Investments Inc. now owns 37,453 shares of the Wireless communications provider’s stock worth $567,000 after purchasing an additional 653 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after purchasing an additional 954 shares during the period. Trust Co. of Vermont lifted its stake in TELUS by 19.0% in the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in TELUS by 2.0% during the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock valued at $1,297,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 49.40% of the company’s stock.

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.