Short Interest in TELUS Co. (NYSE:TU) Decreases By 15.1%

TELUS Co. (NYSE:TU) (TSE:T) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,540,000 shares, a drop of 15.1% from the August 15th total of 5,350,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 4.1 days. Currently, 0.4% of the shares of the stock are short sold.

TU traded down $0.31 on Friday, reaching $17.85. 2,968,217 shares of the company traded hands, compared to its average volume of 1,298,886. TELUS has a one year low of $13.54 and a one year high of $20.91. The firm has a fifty day simple moving average of $18.17 and a two-hundred day simple moving average of $17.03. The company has a market cap of $22.92 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 3.61 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.45.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). TELUS had a net margin of 9.53% and a return on equity of 13.33%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 billion. On average, equities analysts forecast that TELUS will post 0.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a dividend of $0.2169 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, September 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.86%. TELUS’s dividend payout ratio (DPR) is presently 80.91%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its position in TELUS by 61.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 339,597 shares of the Wireless communications provider’s stock valued at $12,578,000 after purchasing an additional 128,989 shares during the period. BlackRock Inc. increased its position in TELUS by 71.7% during the 1st quarter. BlackRock Inc. now owns 5,107,999 shares of the Wireless communications provider’s stock valued at $80,604,000 after purchasing an additional 2,132,586 shares during the period. Bank of New York Mellon Corp increased its position in TELUS by 126.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,713,470 shares of the Wireless communications provider’s stock valued at $27,037,000 after purchasing an additional 958,213 shares during the period. Russell Investments Group Ltd. increased its position in TELUS by 100.0% during the 1st quarter. Russell Investments Group Ltd. now owns 4,534 shares of the Wireless communications provider’s stock valued at $70,000 after purchasing an additional 2,267 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in TELUS during the 1st quarter valued at about $129,000. Institutional investors own 48.96% of the company’s stock.

Several research firms have commented on TU. Royal Bank of Canada increased their price objective on shares of TELUS from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Monday, June 1st. Scotiabank increased their price objective on shares of TELUS from $27.00 to $27.50 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Canaccord Genuity increased their price objective on shares of TELUS from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, June 3rd. Finally, Veritas Investment Research upgraded shares of TELUS to a “buy” rating in a research report on Tuesday, August 4th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.89.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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