TELUS Corporation (TU) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of TELUS Corporation (NYSE:TU) (TSE:T) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Over the past three months, shares of TELUS inched up 6.5% beating the industry's growth of 2.9%. Buyout of Voxpro will expand TELUS International's U.S. track. Moreover, TELUS continues to benefit from increased penetration of smartphones, higher average revenue per unit, accelerating wireless data services and growing wireline fiber optic networks. The company has consolidated its foothold in the Internet of Things (IoT) market and is focusing on its PureFibre network business. Meanwhile, TELUS will receive about one-third of Manitoba Telecom Services (MTS) postpaid subscribers and 13 MTS retail locations from BCE. On the flip side, TELUS faces fierce competition in both the wireless and wireline segments. At the wireless segment, it competes against Rogers Communications and Bell Canada and also faces threat from small regional carriers. Cable TV operators such as Shaw Communications pose threat on the wireline side.”

TU has been the topic of a number of other reports. BidaskClub cut TELUS Corporation from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. Barclays PLC boosted their price objective on TELUS Corporation from $38.00 to $41.00 and gave the company an overweight rating in a research report on Monday, August 14th. Finally, BMO Capital Markets boosted their price objective on TELUS Corporation from $46.00 to $47.00 and gave the company an outperform rating in a research report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. TELUS Corporation has an average rating of Buy and an average target price of $43.50.

Shares of TELUS Corporation (TU) opened at 36.15 on Tuesday. The firm has a market cap of $21.47 billion, a P/E ratio of 21.95 and a beta of 0.89. The stock’s 50 day moving average is $35.96 and its 200-day moving average is $34.05. TELUS Corporation has a 52-week low of $30.31 and a 52-week high of $36.94.

TELUS Corporation (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.05). The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a return on equity of 18.75% and a net margin of 9.55%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities analysts anticipate that TELUS Corporation will post $2.21 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.3884 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS Corporation’s dividend payout ratio is presently 100.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of TELUS Corporation by 1.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 766,058 shares of the Wireless communications provider’s stock valued at $26,400,000 after purchasing an additional 14,252 shares during the period. CGOV Asset Management grew its position in TELUS Corporation by 5.3% in the first quarter. CGOV Asset Management now owns 1,737,899 shares of the Wireless communications provider’s stock valued at $75,025,000 after acquiring an additional 86,700 shares during the period. Federated Investors Inc. PA grew its position in TELUS Corporation by 8.7% in the second quarter. Federated Investors Inc. PA now owns 229,895 shares of the Wireless communications provider’s stock valued at $7,936,000 after acquiring an additional 18,473 shares during the period. Vanguard Group Inc. grew its position in TELUS Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 4,680,743 shares of the Wireless communications provider’s stock valued at $152,031,000 after acquiring an additional 182,298 shares during the period. Finally, USS Investment Management Ltd grew its position in TELUS Corporation by 1.3% in the first quarter. USS Investment Management Ltd now owns 2,312,044 shares of the Wireless communications provider’s stock valued at $75,099,000 after acquiring an additional 28,949 shares during the period. Institutional investors and hedge funds own 51.05% of the company’s stock.

TELUS Corporation Company Profile

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)

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