TELUS (NYSE:TU) Sets New 52-Week Low – Here’s What Happened

TELUS Corporation (NYSE:TU) (TSE:T) reached a new 52-week low during trading on Tuesday . The company traded as low as $11.67 and last traded at $11.7150, with a volume of 1353507 shares trading hands. The stock had previously closed at $11.79.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TU shares. Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Scotiabank lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Weiss Ratings lowered shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Finally, TD Cowen raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, TELUS currently has a consensus rating of “Hold” and an average target price of $16.33.

TELUS Stock Up 0.6%

The firm’s 50-day moving average price is $12.37 and its 200-day moving average price is $13.01. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 11.67 and a beta of 0.61. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Wednesday, June 10th. TELUS’s dividend payout ratio (DPR) is presently 275.00%.

Institutional Investors Weigh In On TELUS

Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC raised its holdings in shares of TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 1,712 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of TELUS during the 4th quarter valued at about $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of TELUS by 129.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after buying an additional 1,393 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of TELUS during the 4th quarter valued at about $55,000. Finally, State of Wyoming purchased a new stake in shares of TELUS during the 2nd quarter valued at about $61,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.