TELUS (NYSE:TU) Reaches New 1-Year Low – Should You Sell?

TELUS Corporation (NYSE:TU) (TSE:T) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.67 and last traded at $8.69, with a volume of 6540776 shares changing hands. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TU shares. Royal Bank Of Canada cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Bank of America reiterated an “underperform” rating on shares of TELUS in a research report on Tuesday, August 4th. Barclays set a $11.00 price target on shares of TELUS and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley downgraded shares of TELUS to an “underweight” rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $15.33.

TELUS Trading Down 0.8%

The stock has a fifty day moving average of $9.70 and a two-hundred day moving average of $11.31. The company has a market capitalization of $13.53 billion, a PE ratio of -20.77, a PEG ratio of 20.10 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results 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). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. As a group, sell-side analysts anticipate that TELUS Corporation will post 0.24 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Thursday, September 10th. TELUS’s dividend payout ratio (DPR) is presently -131.71%.

Institutional Trading of TELUS

Several institutional investors have recently added to or reduced their stakes in TU. The Manufacturers Life Insurance Company increased its holdings in shares of TELUS by 21.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after buying an additional 4,258,557 shares during the period. Bank of Nova Scotia boosted its holdings in TELUS by 20.4% during the 1st quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock valued at $271,237,000 after acquiring an additional 3,571,734 shares during the period. First Trust Advisors LP boosted its holdings in TELUS by 5.2% during the 1st quarter. First Trust Advisors LP now owns 9,844,098 shares of the Wireless communications provider’s stock valued at $126,343,000 after acquiring an additional 486,043 shares during the period. Letko Brosseau & Associates Inc. grew its position in TELUS by 2.2% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock worth $89,416,000 after acquiring an additional 148,325 shares during the last quarter. Finally, Norges Bank bought a new position in TELUS during the 4th quarter worth approximately $83,707,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Company Profile

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.