TELUS Corporation (NYSE:TU) Given Average Recommendation of “Reduce” by Analysts

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been given a consensus rating of “Reduce” by the sixteen brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $15.3333.

TU has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce downgraded shares of TELUS from a “strong-buy” rating to a “neutral” rating in a research report on Friday, July 31st. Barclays set a $11.00 price objective on shares of TELUS and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Morgan Stanley lowered shares of TELUS to an “underweight” rating in a report on Tuesday, July 21st. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th.

Institutional Trading of TELUS

Large investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in TELUS by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock worth $11,181,000 after acquiring an additional 11,900 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of TELUS by 1.9% during the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after purchasing an additional 841 shares during the period. Legal & General Group Plc boosted its position in shares of TELUS by 159.5% during the 2nd quarter. Legal & General Group Plc now owns 37,274 shares of the Wireless communications provider’s stock worth $597,000 after purchasing an additional 22,912 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of TELUS by 67.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after buying an additional 3,510 shares during the period. Finally, Marshall Wace LLP bought a new stake in TELUS in the 2nd quarter valued at about $3,617,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Performance

NYSE TU opened at $9.10 on Friday. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of -22.18, a PEG ratio of 21.32 and a beta of 0.63. 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 has a twelve month low of $9.01 and a twelve month high of $16.12. The stock has a fifty day simple moving average of $9.96 and a 200 day simple moving average of $11.59.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts expect that TELUS will post 0.24 EPS for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 8.2%. TELUS’s payout ratio is -131.71%.

TELUS Company Profile

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It provides wireless and wireline communications services, including mobile connectivity, internet, voice, television and home security services, primarily to consumers, businesses and public-sector organizations in Canada.

The company also operates technology-focused businesses outside its traditional telecommunications operations. TELUS Health provides digital health platforms, virtual care, electronic medical records and workplace health solutions.