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Retirees: Is TELUS Stock a Risky Buy?

Retirees: Is TELUS Stock a Risky Buy?

退休人員:泰勒斯股票是一個風險較高的買入嗎?
The Motley Fool ·  2024/12/11 10:00

TELUS (TSX:T) stock has long been considered a staple in Canadian portfolios, particularly for those seeking steady income through dividends. Yet with more risk among telecom companies, should retirees rethink their investment? Let's take a look at TELUS stock to see whether it's still a buy for retirees.

泰勒斯(TSX:T)股票長期以來被認爲是加拿大投資組合中的一項重要資產,尤其對於尋求通過分紅派息獲得穩定收入的投資者。然而,在電信公司面臨更多風險的情況下,退休人士是否需要重新考慮他們的投資?讓我們來看看泰勒斯股票,以判斷它是否仍然適合退休人士買入。

The numbers

數字

Recently, TELUS stock reported its third-quarter 2024 earnings, which showcased strong operational performance. Net income surged by an impressive 88% year-over-year to $923 million, with earnings per share climbing 111%. This growth reflects TELUS stock's ability to manage its core businesses effectively and capitalize on its expanding customer base. For retirees, this kind of earnings momentum can be encouraging, as it suggests a level of stability and resilience that aligns well with the needs of income-focused investors.

最近,泰勒斯股票公佈了2024年第三季度的業績,展現出強勁的運營表現。淨利潤同比激增88%,達到92300萬, 每股收益增長111%。這一增長反映了泰勒斯在有效管理其核心業務和利用擴大的客戶基礎方面的能力。對於退休人士而言,這種盈利勢頭可以令人鼓舞,因爲它表明了一個與以收入爲焦點的投資者的需求相一致的穩定性和韌性。

One of Telus' most attractive features is its dividend yield, which currently stands at a substantial 7.3%. With a forward annual dividend of $1.61 per share, this is undeniably appealing for those relying on investment income during retirement. However, TELUS stock's payout ratio of 242.9% raises a cautionary flag.

泰勒斯最吸引人的特點之一是其分紅派息收益率,目前爲7.3%。以每股1.61美元的前瞻性年分紅派息,對於在退休期間依賴投資收入的人來說,這無疑是極具吸引力的。然而,泰勒斯股票的派息比率爲242.9%,這引發了警示。

A payout ratio above 100% means the company is paying out more in dividends than it earns in profits. While this doesn't immediately signal danger, it does mean TELUS stock relies on other sources, like cash flow or borrowing, to sustain its dividend payments. This can be risky if financial conditions change, such as a tightening credit environment or unexpected operational challenges.

超過100%的分紅比率意味着公司支付的分紅超過了盈利。雖然這並不立即意味着危險,但確實意味着泰勒斯股票依賴於其他來源,比如現金流或借款,以維持其分紅支付。如果金融環境發生變化,比如信貸環境收緊或意外的運營挑戰,這可能是有風險的。

Do the books balance?

賬目平衡嗎?

TELUS stock does have significant debt, with total borrowings of $29.1 billion and a debt-to-equity ratio of 171.6%. While the telecommunications sector is often associated with high capital expenditures and debt levels, these figures are particularly high. Retirees need to consider how these obligations could impact the company's financial flexibility, especially during economic downturns. That said, TELUS stock's operating cash flow of $5.1 billion and levered free cash flow of $1.4 billion provide some reassurance.

泰勒斯股票確實有相當大的債務,總借款爲291億,債務與股本比率爲171.6%。雖然電信行業通常與高資本支出和債務水平相關聯,但這些數字尤其高。退休人員需要考慮這些義務可能如何影響公司的財務靈活性,特別是在經濟衰退期間。不過,泰勒斯股票的營業現金流爲51億,槓桿自由現金流爲14億,提供了一些保證。

Still, some investors may see this as an opportunity to buy at a discount. However, TELUS stock's valuation metrics indicate a mixed picture. Its trailing price/earnings (P/E) ratio of 35.1 is on the high side, thus suggesting that investors are paying a premium for its earnings. The forward P/E of 21.7 implies expectations of earnings growth. Yet it may also reflect a degree of market optimism that retirees should carefully weigh against the underlying risks.

儘管如此,一些投資者可能會將其視爲以折扣價購入的機會。然而,泰勒斯股票的估值指標顯示出一種混合的情況。其市盈率(P/E)爲35.1,處於高位,暗示投資者爲其盈利支付了溢價。未來市盈率爲21.7,暗示盈利增長的預期。然而,這也可能反映出一種市場樂觀情緒,退休人員應謹慎權衡潛在風險。

What to watch

觀看建議

Despite these financial challenges, TELUS stock has demonstrated strong growth in its customer base. In the most recent quarter, the company added 347,000 new mobile and fixed customers, an 8.5% increase over the previous year. This growth highlights Telus' ability to attract and retain customers in a competitive market, which bodes well for its revenue stability.

儘管面臨這些財務挑戰,泰勒斯股票在其客戶基礎上表現出了強勁的增長。在最近一個季度,公司新增了347,000個移動和固定客戶,同比增加了8.5%。這種增長突顯了泰勒斯在競爭激烈的市場中吸引和留住客戶的能力,這爲其營業收入穩定性提供了良好的前景。

Telecommunications is a necessity in today's connected world, and companies like TELUS stock benefit from predictable demand. Furthermore, TELUS stock has diversified its revenue streams beyond traditional telecom services, with ventures into digital healthcare and international operations. These initiatives could provide long-term growth opportunities, further enhancing the company's resilience.

在當今互聯世界中,電信服務是一種必需品,像泰勒斯這樣的公司受益於可預測的需求。此外,泰勒斯股票將其營業收入來源多樣化,超越了傳統的電信服務,涉足數字醫療和國際業務。這些舉措可能爲長期增長機會提供支持,進一步增強公司的彈性。

The stock's beta of 0.72 indicates lower volatility compared to the broader market, making it a potentially less risky option for retirees who prioritize stability. While the overall market can be turbulent, TELUS stock's price movements are relatively subdued, which is advantageous for those who prefer steady investments.

該股票的貝塔係數爲0.72,表明與更廣泛的市場相比波動性較低,這使其成爲優先考慮穩定性的退休人員的潛在低風險選擇。雖然整體市場可能動盪不定,但泰勒斯股票的價格波動相對溫和,這對那些偏好穩健投資的人來說是有利的。

Bottom line

底線

TELUS stock is not without its risks, but it remains a compelling option for retirees seeking income and moderate growth. Its dividend yield and industry position make it appealing, but its high debt and payout ratio warrant a cautious approach. Retirees considering Telus should ensure it fits within a diversified portfolio and aligns with their risk tolerance and income needs. Consulting with a financial advisor can provide tailored guidance to help navigate these complexities.

泰勒斯的股票並非沒有風險,但對於尋求收入和適度增長的養老人士來說,它仍然是一個引人注目的選擇。它的分紅派息收益率和行業地位使其具有吸引力,但其高債務和派息比率要求採取謹慎的態度。考慮投資泰勒斯的養老人士應確保其符合多元化投資組合,並與他們的 風險承受能力 和收入需求相一致。諮詢財務顧問可以提供量身定製的指導,幫助應對這些複雜情況。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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