TELUS (NYSE:TU) Releases Earnings Results, Misses Expectations By $0.02 EPS

TELUS (NYSE:TU) (TSE:T) issued its quarterly earnings results on Friday. The Wireless communications provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02), Zacks reports. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS.

TELUS Stock Performance

NYSE:TU traded up $0.18 during mid-day trading on Friday, hitting $14.79. The stock had a trading volume of 6,938,262 shares, compared to its average volume of 5,116,486. TELUS has a 52 week low of $13.24 and a 52 week high of $16.74. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 4.35 and a beta of 0.71. The company has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $15.86.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be issued a $0.4184 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 11.3%. TELUS’s dividend payout ratio is 263.04%.

Analysts Set New Price Targets

Several research analysts have recently commented on TU shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research report on Thursday, October 30th. Scotiabank restated an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.50.

Institutional Investors Weigh In On TELUS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake 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 in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of TELUS by 9.2% in the second quarter. Orion Porfolio Solutions LLC now owns 38,064 shares of the Wireless communications provider’s stock valued at $611,000 after buying an additional 3,213 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of TELUS in the second quarter valued at $172,000. Advisory Services Network LLC boosted its stake in TELUS by 8.4% during the second 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. Finally, State of Wyoming acquired a new position in TELUS during the second quarter worth about $61,000. Institutional investors own 49.40% of the company’s stock.

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.