Brokers Issue Forecasts for TELUS Co.’s FY2024 Earnings (TSE:T)
TELUS Co. (TSE:T – Free Report) (NYSE:TU) – Analysts at National Bank Financial dropped their FY2024 earnings per share estimates for TELUS in a report released on Tuesday, June 25th. National Bank Financial analyst A. Shine now anticipates that the company will post earnings per share of $1.08 for the year, down from their prior estimate of $1.09. The consensus estimate for TELUS’s current full-year earnings is $1.00 per share.
Several other analysts have also recently weighed in on the company. BMO Capital Markets reduced their price target on TELUS from C$26.00 to C$24.00 in a report on Tuesday, April 2nd. Royal Bank of Canada cut their price objective on TELUS from C$29.00 to C$26.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on TELUS from C$27.00 to C$24.00 in a research note on Wednesday, April 3rd. Scotiabank cut their price objective on TELUS from C$26.00 to C$24.25 and set a “sector perform” rating on the stock in a research note on Wednesday, April 17th. Finally, National Bankshares cut their price objective on TELUS from C$25.00 to C$23.00 and set an “outperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$25.33.
View Our Latest Stock Report on TELUS
TELUS Stock Performance
TELUS stock opened at C$20.71 on Friday. TELUS has a 12-month low of C$20.67 and a 12-month high of C$26.09. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 159.88. The business’s 50-day moving average price is C$22.09 and its two-hundred day moving average price is C$22.90. The stock has a market cap of C$30.65 billion, a PE ratio of 39.83, a P/E/G ratio of 2.07 and a beta of 0.67.
TELUS (TSE:T – Get Free Report) (NYSE:TU) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.26 EPS for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.02. TELUS had a return on equity of 4.96% and a net margin of 4.20%. The company had revenue of C$4.93 billion for the quarter, compared to analysts’ expectations of C$5.06 billion.
TELUS Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be issued a dividend of $0.389 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.56 annualized dividend and a yield of 7.51%. This is an increase from TELUS’s previous quarterly dividend of $0.38. TELUS’s dividend payout ratio is 288.46%.
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.
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