Shares of TELUS Co. (NYSE:TU) (TSE:T) have been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $49.67.
A number of brokerages recently commented on TU. Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, September 30th. Scotiabank raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 8th. Finally, Echelon Wealth Partners reaffirmed a “buy” rating and issued a $56.00 target price on shares of TELUS in a research note on Tuesday, November 12th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TU. Voloridge Investment Management LLC grew its stake in shares of TELUS by 75.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 105,959 shares of the Wireless communications provider’s stock worth $3,774,000 after acquiring an additional 45,694 shares in the last quarter. Barclays PLC increased its position in shares of TELUS by 50.7% in the third quarter. Barclays PLC now owns 170,595 shares of the Wireless communications provider’s stock valued at $6,077,000 after acquiring an additional 57,396 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of TELUS by 348.9% in the third quarter. Point72 Asset Management L.P. now owns 37,907 shares of the Wireless communications provider’s stock valued at $1,350,000 after acquiring an additional 29,462 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in TELUS by 2.7% during the third quarter. Pictet Asset Management Ltd. now owns 106,449 shares of the Wireless communications provider’s stock worth $3,791,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in TELUS by 4.2% during the third quarter. Stifel Financial Corp now owns 104,485 shares of the Wireless communications provider’s stock worth $3,704,000 after acquiring an additional 4,177 shares in the last quarter. Hedge funds and other institutional investors own 49.28% of the company’s stock.
TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 11.91% and a return on equity of 16.54%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Equities research analysts predict that TELUS will post 2.19 EPS for the current fiscal year.
TELUS Company Profile
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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