TELUS Corporation (TU) Upgraded by Royal Bank of Canada to “Outperform”
Royal Bank of Canada upgraded shares of TELUS Corporation (NYSE:TU) (TSE:T) from a sector perform rating to an outperform rating in a research note released on Friday. They currently have $51.00 target price on the Wireless communications provider’s stock, up from their previous target price of $47.00.
A number of other analysts have also issued reports on TU. Zacks Investment Research upgraded TELUS Corporation from a hold rating to a buy rating and set a $39.00 price target for the company in a report on Friday, July 14th. BidaskClub upgraded TELUS Corporation from a buy rating to a strong-buy rating in a report on Saturday, August 5th. BMO Capital Markets boosted their price target on TELUS Corporation from $46.00 to $47.00 and gave the company an outperform rating in a report on Monday, August 14th. Barclays PLC boosted their price target on TELUS Corporation from $38.00 to $41.00 and gave the company an overweight rating in a report on Monday, August 14th. Finally, Scotiabank upgraded TELUS Corporation from a sector perform rating to an outperform rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. TELUS Corporation has an average rating of Buy and an average target price of $45.20.
Shares of TELUS Corporation (NYSE TU) traded up $0.77 during midday trading on Friday, hitting $38.25. The company had a trading volume of 1,088,000 shares, compared to its average volume of 415,304. The company has a quick ratio of 0.47, a current ratio of 0.54 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $22,263.12, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. TELUS Corporation has a 12-month low of $30.31 and a 12-month high of $38.47.
TELUS Corporation (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.26 billion. TELUS Corporation had a net margin of 9.61% and a return on equity of 19.21%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. equities research analysts anticipate that TELUS Corporation will post 2.09 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.505 per share. The ex-dividend date is Friday, December 8th. This represents a $2.02 dividend on an annualized basis and a yield of 5.28%. This is a positive change from TELUS Corporation’s previous quarterly dividend of $0.39. TELUS Corporation’s dividend payout ratio is currently 97.53%.
A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in TELUS Corporation by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,907 shares of the Wireless communications provider’s stock worth $860,000 after buying an additional 237 shares during the period. Financial Counselors Inc. lifted its holdings in TELUS Corporation by 3.6% during the second quarter. Financial Counselors Inc. now owns 6,840 shares of the Wireless communications provider’s stock worth $236,000 after buying an additional 240 shares during the period. Creative Planning lifted its holdings in TELUS Corporation by 2.9% during the second quarter. Creative Planning now owns 11,796 shares of the Wireless communications provider’s stock worth $407,000 after buying an additional 333 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in TELUS Corporation by 0.4% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,508 shares of the Wireless communications provider’s stock worth $5,123,000 after buying an additional 605 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in TELUS Corporation by 6.4% during the second quarter. Janney Montgomery Scott LLC now owns 10,114 shares of the Wireless communications provider’s stock worth $349,000 after buying an additional 611 shares during the period. Institutional investors own 51.02% of the company’s stock.
About TELUS Corporation
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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