Analysts Set TELUS Corporation (NYSE:TU) Price Target at $21.50

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $21.50.

Separately, Scotiabank reiterated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its stake in shares of TELUS by 36.0% in the second quarter. Corient Private Wealth LLC now owns 16,998 shares of the Wireless communications provider’s stock worth $273,000 after buying an additional 4,504 shares during the period. Osaic Holdings Inc. increased its position in TELUS by 453.1% during the 2nd quarter. Osaic Holdings Inc. now owns 22,623 shares of the Wireless communications provider’s stock valued at $363,000 after purchasing an additional 18,533 shares during the period. Orion Porfolio Solutions LLC increased its position in TELUS by 9.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 38,064 shares of the Wireless communications provider’s stock valued at $611,000 after purchasing an additional 3,213 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in TELUS during the 2nd quarter valued at $172,000. Finally, Advisory Services Network LLC boosted its holdings in shares of TELUS by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 23,555 shares of the Wireless communications provider’s stock valued at $379,000 after buying an additional 1,834 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Stock Up 0.1%

TELUS stock opened at $15.67 on Friday. The stock has a market cap of $24.05 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 4.57 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The firm’s 50-day simple moving average is $16.20 and its 200 day simple moving average is $15.72. TELUS has a fifty-two week low of $13.24 and a fifty-two week high of $16.88.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Research analysts predict that TELUS will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. The ex-dividend date is Wednesday, September 10th. This is a boost from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.7%. TELUS’s dividend payout ratio (DPR) is presently 263.04%.

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.