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.

COPYRIGHT VIOLATION NOTICE: This piece was published by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/telus-corporation-tu-upgraded-by-royal-bank-of-canada-to-outperform/1696469.html.

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.

Analyst Recommendations for TELUS Corporation (NYSE:TU)

Receive News & Ratings for TELUS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.