National Bank Financial Weighs in on TELUS Co.’s Q3 2024 Earnings (NYSE:TU)

TELUS Co. (NYSE:TU) (TSE:T) – Research analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of TELUS in a research note issued on Tuesday, October 1st. National Bank Financial analyst A. Shine anticipates that the Wireless communications provider will earn $0.18 per share 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.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same period in the prior year, the business earned $0.14 EPS.

TU has been the topic of a number of other reports. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.33.

TELUS Price Performance

TELUS stock opened at $16.30 on Friday. The firm has a market cap of $24.16 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. TELUS has a 52-week low of $14.63 and a 52-week high of $19.14. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $16.42 and its two-hundred day moving average is $16.13.

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 $0.284 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.97%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, September 10th. TELUS’s dividend payout ratio (DPR) is 294.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Capital Research Global Investors lifted its stake in shares of TELUS by 215.8% in the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after acquiring an additional 15,179,110 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of 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 worth $578,253,000 after acquiring an additional 2,365,753 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TELUS by 81.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider’s stock worth $67,569,000 after acquiring an additional 1,704,788 shares during the period. Fiera Capital Corp lifted its stake in shares of TELUS by 9.9% in the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider’s stock worth $252,468,000 after acquiring an additional 1,501,742 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of TELUS by 7.2% in the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider’s stock worth $345,330,000 after acquiring an additional 1,438,904 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

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.