Fri Oct 04 05:39:45 UTC 2024: ## TELUS EPS Estimates Lowered by National Bank Financial
**Toronto, Canada** – National Bank Financial has lowered its earnings per share (EPS) estimates for TELUS (TSE:T, NYSE:TU) for the fiscal year 2024. Analyst A. Shine now expects the company to post earnings of $0.97 per share, down from the previous estimate of $0.99. This revised forecast is below the consensus estimate of $1.06 per share.
National Bank Financial also projected EPS of $0.98 for the fiscal year 2025.
The news comes amidst a mixed outlook from other analysts. While some have lowered their price targets, others have maintained or even raised theirs. Notably, National Bankshares downgraded its price objective from C$25.00 to C$23.00 while maintaining an “outperform” rating. Royal Bank of Canada also lowered its price objective from C$26.00 to C$25.00, also retaining an “outperform” rating. Conversely, BMO Capital Markets raised its price target from C$24.00 to C$25.00, reflecting a more optimistic view.
Despite the lowered EPS forecast, TELUS shares opened at C$22.28 on Thursday. The stock currently has a “Moderate Buy” consensus rating with a target price of C$24.58 according to MarketBeat data.
TELUS recently reported its Q2 earnings, surpassing analysts’ expectations with C$0.25 EPS and revenue of C$4.97 billion. The company also announced a quarterly dividend of $0.389 per share, representing a yield of 6.98%.
TELUS, a leading telecommunications provider in Canada, continues to expand its services, including technology solutions, network services, and healthcare services. However, the company faces challenges in a competitive market, which may explain the recent downward revisions to earnings estimates.
First Piper 