Brokers Set Expectations for TELUS Co.’s Q3 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Equities research analysts at National Bank Financial issued their Q3 2024 earnings per share estimates for TELUS in a report released on Tuesday, October 1st. National Bank Financial analyst A. Shine anticipates that the Wireless communications provider will post earnings per share of $0.18 for the quarter. The consensus estimate for TELUS’s current full-year earnings is $0.74 per share. National Bank Financial also issued estimates for TELUS’s FY2024 earnings at $0.72 EPS.

A number of other research analysts have also issued reports on the stock. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

TELUS Stock Performance

NYSE TU opened at $16.30 on Friday. TELUS has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The stock has a market cap of $24.16 billion, a PE ratio of 41.80, a PEG ratio of 2.52 and a beta of 0.74. 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 firm’s fifty day moving average price is $16.42 and its two-hundred day moving average price is $16.13.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data 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 business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same period last year, the firm posted $0.14 earnings per share.

Hedge Funds Weigh In On TELUS

Several institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in TELUS by 11.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after purchasing an additional 126,488 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of TELUS by 5.4% in the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock worth $188,835,000 after acquiring an additional 636,845 shares during the last quarter. Vanguard Group Inc. lifted its position in TELUS by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock valued at $406,217,000 after acquiring an additional 1,044,988 shares in the last quarter. Van ECK Associates Corp acquired a new position in TELUS during the 1st quarter valued at about $1,991,000. Finally, Virtu Financial LLC bought a new stake in TELUS during the 4th quarter worth approximately $376,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.284 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date was Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is presently 294.88%.

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.