StockNews.com upgraded shares of TELUS (NYSE:TU – Free Report) (TSE:T) from a sell rating to a hold rating in a research note published on Tuesday.
Several other brokerages have also weighed in on TU. Scotiabank dropped their target price on TELUS from C$29.50 to C$28.00 in a research report on Tuesday, August 8th. CIBC dropped their target price on TELUS from C$31.00 to C$29.00 in a research report on Monday, July 17th. JPMorgan Chase & Co. lowered their price target on TELUS from C$33.00 to C$31.00 in a report on Thursday, July 20th. Bank of America lowered their price target on TELUS from C$33.00 to C$30.00 in a report on Friday, October 6th. Finally, Desjardins lowered their price target on TELUS from C$29.00 to C$27.50 in a report on Friday, July 14th.
Get Our Latest Stock Analysis on TELUS
TELUS Price Performance
Shares of NYSE TU opened at $17.45 on Tuesday. TELUS has a 1-year low of $15.47 and a 1-year high of $22.08. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.57. The business’s fifty day moving average price is $16.73 and its two-hundred day moving average price is $18.22. The firm has a market capitalization of $25.37 billion, a PE ratio of 42.56, a P/E/G ratio of 3.23 and a beta of 0.73.
TELUS Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.271 per share. This represents a $1.08 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, December 8th. TELUS’s payout ratio is currently 263.42%.
Hedge Funds Weigh In On TELUS
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in TELUS by 227.5% during the 1st quarter. Bessemer Group Inc. now owns 1,598 shares of the Wireless communications provider’s stock worth $32,000 after acquiring an additional 1,110 shares during the period. Ridgewood Investments LLC acquired a new stake in TELUS during the 1st quarter worth about $32,000. Glass Jacobson Investment Advisors llc acquired a new stake in TELUS during the 2nd quarter worth about $70,000. Captrust Financial Advisors boosted its position in TELUS by 18.1% during the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock worth $104,000 after acquiring an additional 717 shares during the period. Finally, Pacer Advisors Inc. boosted its position in TELUS by 29.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,681 shares of the Wireless communications provider’s stock worth $91,000 after acquiring an additional 1,054 shares during the period. Institutional investors and hedge funds own 49.48% of the company’s stock.
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; 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.
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