TELUS (NYSE:TU) Sets New 52-Week Low – Time to Sell?
by Mitch Edgeman · The Markets DailyShares of TELUS Corporation (NYSE:TU – Get Free Report) (TSE:T) reached a new 52-week low on Thursday . The company traded as low as $12.74 and last traded at $12.8750, with a volume of 2447304 shares traded. The stock had previously closed at $13.28.
Wall Street Analysts Forecast Growth
TU has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TELUS in a report on Monday. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a research report on Thursday. Natl Bk Canada raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Barclays lowered their target price on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TELUS presently has an average rating of “Hold” and an average target price of $18.17.
View Our Latest Analysis on TU
TELUS Stock Up 0.3%
The firm’s 50-day moving average price is $14.27 and its 200-day moving average price is $15.52. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.76 and a quick ratio of 0.71. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66.
TELUS (NYSE:TU – Get Free Report) (TSE:T) last posted its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.
TELUS Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be given a $0.4184 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 annualized dividend and a dividend yield of 13.1%. TELUS’s dividend payout ratio (DPR) is currently 216.36%.
Hedge Funds Weigh In On TELUS
Several hedge funds and other institutional investors have recently bought and sold shares of TU. Parvin Asset Management LLC acquired a new position in TELUS in the second quarter worth about $27,000. Farther Finance Advisors LLC lifted its holdings in TELUS by 35.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 759 shares during the last quarter. Blue Trust Inc. lifted its holdings in TELUS by 26.1% during the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 667 shares during the last quarter. CWM LLC grew its position in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 2,301 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of TELUS in the 2nd quarter valued at approximately $61,000. 49.40% of the stock is owned by institutional investors and hedge funds.
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.