TELUS Corporation (NYSE:TU) Given Average Rating of “Reduce” by Brokerages

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been given an average rating of “Reduce” by the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.3333.

A number of research analysts have recently issued reports on the company. Bank of America reissued an “underperform” rating on shares of TELUS in a report on Tuesday, August 4th. Desjardins downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce lowered shares of TELUS from a “strong-buy” rating to a “neutral” rating in a research report on Friday, July 31st. Raymond James Financial assumed coverage on shares of TELUS in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 1,712 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of TELUS by 129.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after buying an additional 1,393 shares in the last quarter. Nykredit A S acquired a new stake in shares of TELUS in the 2nd quarter valued at approximately $33,000. State of Wyoming acquired a new stake in shares of TELUS in the 2nd quarter valued at approximately $61,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of TELUS in the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TU stock opened at $9.68 on Friday. The stock has a market capitalization of $15.24 billion, a PE ratio of -23.61, a price-to-earnings-growth ratio of 13.24 and a beta of 0.63. TELUS has a 52-week low of $9.20 and a 52-week high of $16.65. The stock’s 50-day moving average price is $10.06 and its 200 day moving average price is $11.74. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.88.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. As a group, equities research analysts forecast that TELUS will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Thursday, September 10th. TELUS’s dividend payout ratio is currently -295.12%.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.