Equities Analysts Set Expectations for TELUS FY2024 Earnings

TELUS Co. (NYSE:TU) (TSE:T) – Stock analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of TELUS in a research note issued on Monday, November 11th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will post earnings per share of $0.71 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) (TSE:T) last announced its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm earned $0.19 EPS. TELUS’s revenue for the quarter was up 1.8% compared to the same quarter last year.

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

TELUS Price Performance

NYSE TU opened at $15.18 on Thursday. TELUS has a 12-month low of $14.63 and a 12-month high of $19.14. The firm’s 50 day moving average is $16.29 and its 200-day moving average is $16.11. The company has a market capitalization of $22.64 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.75. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 1.50.

Institutional Investors Weigh In On TELUS

A number of large investors have recently added to or reduced their stakes in TU. 1832 Asset Management L.P. raised its holdings in TELUS by 6.6% in 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 during the period. Fiera Capital Corp grew its position in shares of TELUS by 9.9% in the second 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 last quarter. National Bank of Canada FI increased its stake 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 worth $345,330,000 after purchasing an additional 1,438,904 shares during the period. TD Asset Management Inc lifted its holdings in TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after purchasing an additional 1,208,720 shares during the last quarter. Finally, Guardian Capital LP boosted its stake in TELUS by 27.8% in the 1st quarter. Guardian Capital LP now owns 5,486,529 shares of the Wireless communications provider’s stock valued at $87,857,000 after purchasing an additional 1,195,035 shares during the period. Institutional investors own 49.40% of the company’s stock.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 244.69%.

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.