TELUS Co. (NYSE:TU) Sees Large Decline in Short Interest

TELUS Co. (NYSE:TUGet Rating) (TSE:T) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 4,020,000 shares, a decline of 26.9% from the March 15th total of 5,500,000 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 2.4 days.

Institutional investors and hedge funds have recently bought and sold shares of the business. CLARET ASSET MANAGEMENT Corp boosted its position in shares of TELUS by 1.3% during the first quarter. CLARET ASSET MANAGEMENT Corp now owns 33,186 shares of the Wireless communications provider’s stock valued at $867,000 after buying an additional 441 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in TELUS by 7.2% in the third quarter. Advisor Group Holdings Inc. now owns 6,965 shares of the Wireless communications provider’s stock worth $152,000 after purchasing an additional 470 shares during the last quarter. Capital World Investors raised its stake in shares of TELUS by 0.7% in the fourth quarter. Capital World Investors now owns 71,482 shares of the Wireless communications provider’s stock worth $1,683,000 after buying an additional 523 shares during the period. US Bancorp DE raised its stake in shares of TELUS by 10.4% in the third quarter. US Bancorp DE now owns 6,448 shares of the Wireless communications provider’s stock worth $142,000 after buying an additional 605 shares during the period. Finally, First Republic Investment Management Inc. raised its stake in TELUS by 1.6% during the 4th quarter. First Republic Investment Management Inc. now owns 40,888 shares of the Wireless communications provider’s stock valued at $964,000 after purchasing an additional 646 shares during the period. Institutional investors and hedge funds own 47.75% of the company’s stock.

Several analysts recently issued reports on the company. BMO Capital Markets boosted their price target on TELUS from C$32.00 to C$34.00 in a research note on Friday, February 11th. Zacks Investment Research downgraded TELUS from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research report on Tuesday, January 11th. National Bank Financial upped their price objective on TELUS from C$35.00 to C$36.00 in a research note on Friday, February 11th. Bank of America lowered shares of TELUS from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $38.00 to $35.00 in a report on Friday, January 7th. Finally, CIBC raised their price target on shares of TELUS from C$31.00 to C$33.50 in a report on Friday, February 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.55.

Shares of NYSE TU traded down $0.06 during mid-day trading on Monday, reaching $26.58. 125,666 shares of the company’s stock were exchanged, compared to its average volume of 1,666,060. TELUS has a 52 week low of $20.36 and a 52 week high of $27.50. The firm has a 50-day moving average price of $25.76 and a two-hundred day moving average price of $24.03. The firm has a market capitalization of $36.41 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.61 and a quick ratio of 0.55.

TELUS (NYSE:TUGet Rating) (TSE:T) last issued its quarterly earnings data on Thursday, February 10th. The Wireless communications provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.42 billion. TELUS had a return on equity of 8.98% and a net margin of 9.59%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. As a group, sell-side analysts forecast that TELUS will post 0.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 11th were issued a dividend of $0.258 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.88%. TELUS’s dividend payout ratio is presently 107.29%.

About TELUS (Get Rating)

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 revenue; equipment sales from mobile technologies; data services revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; customer care and business services; healthcare solutions; and home and business security, agriculture, voice, and other telecommunications services.

Featured Articles

Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.