Reviewing The Case For TELUS Corporation (TU) Going Higher

With over 1.24 million TELUS Corporation (TU) shares trading Tuesday and a closing price of $19.94 on the day, the dollar volume was approximately $24.77 million. The shares have shown a negative half year performance of -8.57% and its price on 05/23/23 lost nearly -1.48%. Currently, there are 1.44B common shares owned by the public and among those 1.41B shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for TU have a consensus price objective of $23.00. The analysts have set the share’s price value over the next 12 months at a high of $24.71 and a low of $20.76. The average price target is 16.11% above its recent price level and an upside to the estimated low will see the stock gain 3.95% over that period. But an upside of 19.3% will see the stock hit the forecast high price target while median target price for the stock is $23.55.

The top 3 mutual fund holders in TELUS Corporation are RBC Canadian Dividend Fund, Imperial Canadian Dividend Income, and Scotia Canadian Dividend Fund. RBC Canadian Dividend Fund owns 16.41 million shares of the company’s stock, all valued at over $347.98 million. Imperial Canadian Dividend Income sold -0.14 million shares to see its total holdings shrink to 10.92 million shares valued at over $231.51 million and representing 0.76% of the shares outstanding. Scotia Canadian Dividend Fund sold -0.16 million shares to bring its total holdings to over 9.84 million shares at a value of $208.64 million. Scotia Canadian Dividend Fund now owns shares totaling to 0.68% of the shares outstanding.

Shares of TELUS Corporation (NYSE: TU) opened at $20.21, down -$0.03 from a prior closing price of $20.24. However, the script later moved the day high at 20.24, down -1.48%. The company’s stock has a 5-day price change of -2.06% and -1.48% over the past three months. TU shares are trading 3.26% year to date (YTD), with the 12-month market performance down to -17.74% lower. It has a 12-month low price of $18.85 and touched a high of $25.50 over the same period. TU has an average intraday trading volume of 1.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.67%, -2.72%, and -4.63% respectively.

Institutional ownership of TELUS Corporation (NYSE: TU) shares accounts for 57.23% of the company’s 1.44B shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $28.39B and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 26.24, while the earnings-per-share (ttm) stands at $0.76. The company has a PEG of 3.44 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.47% over the week and 1.41% over the month.

Analysts forecast that TELUS Corporation (TU) will achieve an EPS of $0.19 for the current quarter, $0.21 for the next quarter and $0.95 for 2024. The lowest estimate earnings-per-share for the quarter is $0.16 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.23 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.00%, and 19.91% over the next financial year. EPS should grow at an annualized rate of 7.63% over the next five years, compared to -2.60% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate TELUS Corporation (TU) as a “Strong Buy” at a consensus score of 1.90. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”