By Ketki Saxena
Investing.com -- Canadian telecommunications giant, TELUS (TSX:TIXT) Corporation is set to release its quarterly earnings data for the period ending June 30, 2023, before the market opens on Friday, August 4th.
Analysts expect TELUS to post earnings of $0.18 per share for the quarter.
In its last earnings announcement on Thursday, May 4th, TELUS reported $0.20 earnings per share (EPS) for the quarter, falling short of analysts' consensus estimates of $0.21 by ($0.01). Despite this shortfall, the company demonstrated a robust net margin of 7.65% and a return on equity of 9.14%. The firm reported revenue of $3.67 billion for the quarter, surpassing consensus estimates of $3.58 billion.
TELUS also declared an increase in its quarterly dividend payout from $0.26 to $0.268 per share, which was paid out on Tuesday, July 4th to investors recorded as of Friday, June 9th. This represents an annualized dividend of $1.07 and a yield of 6.16%, boosting TELUS’s previous quarterly dividend by approximately 3%.
The company's stock performance has seen fluctuations over the past year, with a one-year low of $17.35 and a one-year high of $23.68. The firm currently has a market capitalization of $25.06 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.64 and a beta of 0.73.
Several analysts have recently issued reports on the company's shares with varied forecasts. JPMorgan Chase & Co (NYSE:JPM)., Barclays (LON:BARC), BMO (TSX:BMO) Capital Markets and CIBC (TSX:CM) have all reduced their price targets for TELUS.
JPMorgan Chase & Co. lowered their price target on TELUS from C$33.00 to C$31.00 in a report on Thursday, July 20th.
CIBC lowered their price objective on shares of TELUS from C$31.00 to C$29.00 in a research report on Monday, July 17th.
Meanwhile, Desjardins decreased their price target on TELUS from C$29.00 to C$27.50 in a research note on Friday, July 14th.
In late afternoon trading on Wednesday, August 2, Telus (TSX:T) shares changed hands at C$23.12. Investing Pro models suggest a fair value target of C$26.89, representing a 16.9% upside potential.