National Bank Financial Predicts Stronger Earnings for TELUS

TELUS Co. (NYSE:TU - Free Report) TSE: T - Equities research analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for TELUS in a research note issued on Sunday, November 10th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will post earnings of $0.73 per share for the year, up from their prior estimate of $0.72. The consensus estimate for TELUS's current full-year earnings is $0.78 per share.

Several other research analysts have also weighed in on TU. Canaccord Genuity Group lowered shares of TELUS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. Finally, StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, TELUS presently has a consensus rating of "Hold" and a consensus target price of $26.00.

TELUS Stock Performance

Shares of TELUS stock traded down $0.10 on Wednesday, reaching $15.58. 3,346,978 shares of the stock were exchanged, compared to its average volume of 2,289,992. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $23.24 billion, a PE ratio of 33.14, a PEG ratio of 2.12 and a beta of 0.75. TELUS has a 1-year low of $14.63 and a 1-year high of $19.14. The business has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $16.12.

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

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.63%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. TELUS's dividend payout ratio (DPR) is 244.69%.

Hedge Funds Weigh In On TELUS

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in TELUS by 188.7% during the third quarter. BNP Paribas Financial Markets now owns 135,825 shares of the Wireless communications provider's stock worth $2,279,000 after acquiring an additional 88,771 shares during the last quarter. FMR LLC lifted its stake in shares of TELUS by 192.0% during the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock worth $22,257,000 after purchasing an additional 872,235 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of TELUS during the third quarter worth $4,521,000. Cerity Partners LLC grew its position in shares of TELUS by 7.5% in the third quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider's stock valued at $710,000 after purchasing an additional 2,964 shares during the period. Finally, Citigroup Inc. increased its stake in TELUS by 15.4% in the third quarter. Citigroup Inc. now owns 390,486 shares of the Wireless communications provider's stock valued at $6,558,000 after purchasing an additional 52,105 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

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.