TELUS (NYSE:TU) Issues Earnings Results

TELUS (NYSE:TU) (TSE:T) released its quarterly earnings results on Friday. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02), Zacks reports. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. TELUS’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share.

TELUS Price Performance

TU stock traded up $0.18 during trading on Friday, reaching $14.79. The company’s stock had a trading volume of 6,938,262 shares, compared to its average volume of 5,116,486. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The company’s fifty day moving average is $15.50 and its 200-day moving average is $15.86. The company has a market capitalization of $22.69 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 4.35 and a beta of 0.71. TELUS has a 1 year low of $13.24 and a 1 year high of $16.74.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be given a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 11.3%. The ex-dividend date is Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is 263.04%.

Wall Street Analyst Weigh In

TU has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a research note on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.50.

Hedge Funds Weigh In On TELUS

Several hedge funds have recently modified their holdings of TU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 valued at $11,181,000 after purchasing an additional 11,900 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of TELUS by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 631,342 shares of the Wireless communications provider’s stock valued at $10,224,000 after buying an additional 42,859 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of TELUS by 89.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 506,895 shares of the Wireless communications provider’s stock valued at $8,146,000 after acquiring an additional 239,203 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in TELUS by 5.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 436,229 shares of the Wireless communications provider’s stock worth $6,993,000 after acquiring an additional 20,946 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in TELUS by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 300,041 shares of the Wireless communications provider’s stock worth $4,819,000 after acquiring an additional 108,245 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

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.