TELUS (NYSE:TU) Reaches New 1-Year Low – Here’s What Happened

Shares of TELUS Corporation (NYSE:TU) (TSE:T) reached a new 52-week low on Thursday . The stock traded as low as $9.19 and last traded at $9.2050, with a volume of 1292626 shares traded. The stock had previously closed at $9.46.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TU. Royal Bank Of Canada lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Scotiabank reaffirmed a “sector perform” rating on shares of TELUS in a research note on Monday, August 3rd. Raymond James Financial initiated coverage on TELUS in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Bank of America reiterated an “underperform” rating on shares of TELUS in a research report on Tuesday, August 4th. Finally, National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $15.33.

TELUS Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The company has a market cap of $14.44 billion, a price-to-earnings ratio of -22.38, a P/E/G ratio of 22.61 and a beta of 0.63. The stock has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $11.64.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Analysts predict that TELUS Corporation will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.2%. TELUS’s dividend payout ratio is -295.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TU. Mackenzie Financial Corp increased its stake in TELUS by 3.0% in the fourth quarter. Mackenzie Financial Corp now owns 33,318,398 shares of the Wireless communications provider’s stock valued at $433,838,000 after purchasing an additional 955,779 shares in the last quarter. FIL Ltd grew its holdings in shares of TELUS by 112.9% in the 4th quarter. FIL Ltd now owns 30,300,204 shares of the Wireless communications provider’s stock valued at $399,352,000 after buying an additional 16,066,539 shares during the period. Bank of Nova Scotia bought a new stake in shares of TELUS in the 2nd quarter valued at $255,178,000. The Manufacturers Life Insurance Company increased its position in shares of TELUS by 21.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock valued at $309,159,000 after buying an additional 4,258,557 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in TELUS by 258.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 19,816,565 shares of the Wireless communications provider’s stock worth $261,727,000 after buying an additional 14,285,486 shares during the period. Institutional investors own 49.40% of the company’s stock.

About TELUS

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It provides wireless and wireline communications services, including mobile connectivity, internet, voice, television and home security services, primarily to consumers, businesses and public-sector organizations in Canada.

The company also operates technology-focused businesses outside its traditional telecommunications operations. TELUS Health provides digital health platforms, virtual care, electronic medical records and workplace health solutions.