Analysts Issue Forecasts for TELUS Co.’s Q1 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Analysts at Cormark issued their Q1 2024 earnings per share estimates for shares of TELUS in a research report issued on Thursday, April 25th. Cormark analyst D. Mcfadgen anticipates that the Wireless communications provider will post earnings per share of $0.15 for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.76 per share.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut TELUS from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 4th. Scotiabank reissued a “sector perform” rating and set a $26.00 price objective (down from $28.00) on shares of TELUS in a research note on Monday, March 25th. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Finally, BMO Capital Markets reduced their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, TELUS has a consensus rating of “Hold” and an average target price of $27.72.

TELUS Stock Down 0.2 %

Shares of TU stock opened at $16.07 on Friday. TELUS has a 1 year low of $15.35 and a 1 year high of $21.28. The stock has a market cap of $23.72 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The business’s fifty day moving average is $16.61 and its 200-day moving average is $17.26. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.62 and a current ratio of 0.67.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same period last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis.

Institutional Trading of TELUS

Hedge funds and other institutional investors have recently modified their holdings of the business. Hanson & Doremus Investment Management acquired a new stake in shares of TELUS in the first quarter worth $25,000. VisionPoint Advisory Group LLC raised its holdings in shares of TELUS by 80.8% during the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after acquiring an additional 739 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of TELUS during the fourth quarter worth $33,000. Gulf International Bank UK Ltd raised its holdings in shares of TELUS by 39.8% during the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock worth $44,000 after acquiring an additional 784 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of TELUS during the fourth quarter worth $49,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $0.2793 per share. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from TELUS’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 6.95%. TELUS’s dividend payout ratio (DPR) is currently 258.14%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.