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Short Interest in TELUS Co. (NYSE:TU) Increases By 7.0%

TELUS Co. (NYSE:TU) (TSE:T) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, an increase of 7.0% from the September 30th total of 1,150,000 shares. Based on an average daily trading volume, of 438,200 shares, the short-interest ratio is currently 2.8 days. Approximately 0.2% of the shares of the stock are short sold.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in TELUS by 61.2% during the first 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 in the last quarter. Addenda Capital Inc. raised its position in shares of TELUS by 1.3% in the second quarter. Addenda Capital Inc. now owns 42,080 shares of the Wireless communications provider’s stock valued at $1,577,000 after buying an additional 540 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of TELUS by 132.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 122,576 shares of the Wireless communications provider’s stock valued at $4,524,000 after buying an additional 69,916 shares during the last quarter. Nexus Investment Management Inc. raised its position in shares of TELUS by 1.6% in the second quarter. Nexus Investment Management Inc. now owns 689,060 shares of the Wireless communications provider’s stock valued at $25,472,000 after buying an additional 11,125 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of TELUS by 4.5% in the second quarter. Raymond James Trust N.A. now owns 9,131 shares of the Wireless communications provider’s stock valued at $337,000 after buying an additional 396 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TU traded up $0.06 during mid-day trading on Monday, hitting $37.55. The company’s stock had a trading volume of 25,748 shares, compared to its average volume of 369,826. The company’s 50-day moving average is $36.37 and its 200-day moving average is $36.55. TELUS has a 52-week low of $32.46 and a 52-week high of $38.32. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.68 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. TELUS had a net margin of 11.91% and a return on equity of 16.54%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $0.74 EPS. TELUS’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that TELUS will post 2.19 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Monday, September 30th. Echelon Wealth Partners reaffirmed a “buy” rating and set a $56.00 price target on shares of TELUS in a research note on Tuesday, November 12th. Finally, Scotiabank raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $49.67.

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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