As of the 4th quarter of 2023, Credit Suisse AG has expanded its holdings in TELUS Co. (NYSE:TU) (TSE:T) by a significant 43.0%, according to the firm’s latest 13F filing with the Securities and Exchange Commission. The bank now owns 572,635 shares of the Canadian telecommunications company’s stock, valued at $11,058,000.
TELUS Corp., which provides wireless and wireline voice and data services and products, recently posted its quarterly earnings on May 4th. The company reported $0.20 earnings per share for that quarter, falling short of analysts’ consensus estimates by ($0.01). Despite this setback, TELUS recorded $3.67 billion in revenue during that period – exceeding analyst forecasts of $3.58 billion.
The telecommunications giant also boasts an impressive net margin of 7.65% and a return on equity of 9.14%. As such, equities research analysts anticipate that TELUS Co.’s earnings per share for the current year will reach $0.79.
TELUS operates through two key segments: TELUS Technology Solutions (TTech) and Digitally-led Customer ExperiencesTELUS International (DLCX). These distinct divisions allow the company to streamline their operations, enhance their product offerings, and cater to evolving customer expectations.
Given its upward momentum, it comes as no surprise that Credit Suisse AG has decided to increase its stake in TELUS. As demand for telecommunications services continues to rise worldwide, the Canadian-based firm is well-positioned to capitalize on this trend by offering innovative solutions that meet various customer needs.
Overall, while missing market predictions last quarter is never ideal for any corporation or investor alike – one can easily see how Credit Suisse AG’s confidence in Telus carries weight given Telecommunication companies are constantly growing in every direction possible. The expansion of Credit Suisse AG’s holdings only serves to underscore the market’s bullish optimism on TELUS and its future prospects in the ever-evolving telecommunications sector, which is still presenting unimaginable opportunities.
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Institutional Investors Show Interest in TELUS Corp. as Share Holdings Modify
TELUS Corp. (TU) has been garnering attention from institutional investors as several have recently modified their holdings of the wireless communications provider’s stock. Among these, Bank of Nova Scotia now owns 21,661,166 shares worth $418,025,000 after acquiring an additional 168,406 shares in the fourth quarter. Vanguard Group Inc. grew its position in TELUS by 4.7% during the third quarter and now owns 19,682,698 shares worth $390,898,000 after acquiring an additional 888,266 shares during the last quarter. National Bank of Canada FI increased its holdings by 119.2% during the fourth quarter and now possesses 18,117,787 shares valued at $349,314 worth after acquiring an additional 9,850,903 shares during that period.
In terms of valuation measures for TU stock on June 11th this year: It opened at $18.97; with a business average fifty-day moving average of $20.38 and a two hundred-day moving average of $20.37 per share.
TELUS is known primarily for providing telecommunications services for wireline voice and data usage; specifically through its TELUS Technology Solutions (TTech) and Digitally-led Customer ExperiencesTELUS International (DLCX) segments.
The company recently declared a quarterly dividend which will be paid out on Tuesday July 4th to shareholders on record as of Friday June 9th who will receive a $0.268 dividend per share held. This is considered an increase compared to TELUS’s previous quarterly dividend payout rate of $0.26 per share.
Meanwhile some experts within equities research analysts commenting on TU shares have offered insights on trends relating to pricing adjustments in response to recent announcements including JPMorgan Chase & Co.’s descending price target revision from C$36 to C$33 in a research report issued on February 13th of this year. TD Securities, BMO Capital Markets, and Barclays were among those to adjust their price targets or reduce objective pricing for the company as well. StockNews.com initiated coverage on TELUS reporting more pessimistic rating view with a “sell” rating applied to the stock just last month.
Despite these mixed signals within equity indices around TU stocks, it is noteworthy that 51.42% of the telecommunications firm’s shares are currently owned by institutional investors which can be seen as comforting in terms of stability and long term investor confidence in TELUS over time.
