Research Analysts Offer Predictions for TELUS Co.'s Q3 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU - Free Report) TSE: T - Equities researchers at National Bank Financial issued their Q3 2024 EPS estimates for TELUS in a research note issued on Tuesday, October 1st. National Bank Financial analyst A. Shine anticipates that the Wireless communications provider will earn $0.18 per share for the quarter. The consensus estimate for TELUS's current full-year earnings is $0.73 per share. National Bank Financial also issued estimates for TELUS's FY2024 earnings at $0.72 EPS.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group cut TELUS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, TELUS presently has an average rating of "Hold" and a consensus price target of $27.33.

TELUS Stock Performance

NYSE TU traded down $0.09 on Friday, hitting $16.34. 1,005,566 shares of the stock traded hands, compared to its average volume of 2,250,081. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. The business's fifty day moving average is $16.41 and its two-hundred day moving average is $16.13. TELUS has a 12 month low of $14.63 and a 12 month high of $19.14. The firm has a market capitalization of $24.12 billion, a price-to-earnings ratio of 42.18, a PEG ratio of 2.54 and a beta of 0.74.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter in the prior year, the business earned $0.14 earnings per share.

Hedge Funds Weigh In On TELUS

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors raised its holdings in TELUS by 215.8% in the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider's stock worth $395,314,000 after purchasing an additional 15,179,110 shares in the last quarter. 1832 Asset Management L.P. boosted its position in TELUS by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock valued at $578,253,000 after acquiring an additional 2,365,753 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TELUS by 81.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider's stock worth $67,569,000 after acquiring an additional 1,704,788 shares during the period. Fiera Capital Corp lifted its stake in shares of TELUS by 9.9% in the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock valued at $252,468,000 after purchasing an additional 1,501,742 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of TELUS by 7.2% during the first quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider's stock valued at $345,330,000 after purchasing an additional 1,438,904 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.284 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.14 annualized dividend and a dividend yield of 6.95%. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is currently 294.87%.

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.