TELUS (NYSE:TU) Sees Strong Trading Volume – Here’s Why

by · The Markets Daily

TELUS Corporation (NYSE:TU – Get Free Report) (TSE:T) shares saw unusually-high trading volume on Wednesday . Approximately 6,445,075 shares were traded during trading, an increase of 69% from the previous session’s volume of 3,819,676 shares.The stock last traded at $13.4250 and had previously closed at $13.07.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of TELUS in a research note on Monday. Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 19th. Barclays decreased their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $19.00 price objective (down from $22.00) on shares of TELUS in a research note on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.17.

Check Out Our Latest Stock Analysis on TU

TELUS Trading Up 2.1%

The firm has a 50-day moving average price of $14.67 and a 200-day moving average price of $15.67. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 6.68 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47.

TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.77 billion. TELUS had a return on equity of 8.76% and a net margin of 5.71%.TELUS’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, sell-side analysts predict that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.4184 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.67 annualized dividend and a dividend yield of 12.5%. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio is 220.00%.

Institutional Investors Weigh In On TELUS

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings in TELUS by 54.9% during the 1st quarter. Cetera Investment Advisers now owns 45,258 shares of the Wireless communications provider’s stock worth $649,000 after buying an additional 16,046 shares during the period. LPL Financial LLC lifted its position in shares of TELUS by 7.6% in the 1st quarter. LPL Financial LLC now owns 300,831 shares of the Wireless communications provider’s stock valued at $4,314,000 after acquiring an additional 21,304 shares in the last quarter. Natixis Advisors LLC boosted its stake in TELUS by 49.4% in the 1st quarter. Natixis Advisors LLC now owns 61,181 shares of the Wireless communications provider’s stock worth $877,000 after purchasing an additional 20,235 shares during the period. PNC Financial Services Group Inc. grew its position in TELUS by 65.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,854 shares of the Wireless communications provider’s stock worth $199,000 after purchasing an additional 5,456 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in TELUS by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 26,185,917 shares of the Wireless communications provider’s stock valued at $375,585,000 after purchasing an additional 384,510 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Company Profile

(Get Free Report)

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.

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