What is Cormark's Estimate for TELUS FY2024 Earnings?

TELUS Co. (NYSE:TU - Free Report) TSE: T - Cormark raised their FY2024 earnings per share estimates for shares of TELUS in a research note issued to investors on Monday, November 11th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will post earnings of $0.71 per share for the year, up from their previous forecast of $0.68. The consensus estimate for TELUS's current full-year earnings is $0.78 per share.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group downgraded shares of TELUS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Finally, Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $26.00.

TELUS Price Performance

TU stock traded down $0.31 during trading on Thursday, reaching $15.27. 1,878,669 shares of the company were exchanged, compared to its average volume of 2,287,603. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.12 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.61. The company has a 50-day moving average of $16.29 and a two-hundred day moving average of $16.11. TELUS has a twelve month low of $14.63 and a twelve month high of $19.14.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date is Wednesday, December 11th. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is currently 244.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fairscale Capital LLC bought a new stake in TELUS during the second quarter worth about $27,000. Blue Trust Inc. increased its holdings in TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after buying an additional 954 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of TELUS in the first quarter worth $58,000. Acadian Asset Management LLC bought a new position in shares of TELUS during the second quarter worth $123,000. Finally, Trust Co. of Vermont boosted its position in shares of TELUS by 19.0% during the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 1,218 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

About TELUS

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.