TELUS stock hits a new 52-week low as leverage rises

TELUS Corporation (US89531P1057) traded at USD 8.69 on the NYSE on September 22, 2026, after a previous close of USD 8.75 and an intraday low of USD 8.67. The 52-week low puts the stock under pressure as revised 2026 guidance points to weaker revenue, lower EBITDA and higher capital spending.

Leverage drives the latest pressure

As Investing.com reported on September 21, 2026, S&P Global Ratings revised its outlook on TELUS from positive to stable while affirming the BBB- issuer rating. S&P Global expects leverage to reach about 4.0x at the end of 2026, compared with its previous assumption of 3.75x.

The revised guidance includes revenue declining between 0 percent and 2 percent in 2026, adjusted EBITDA falling between 2 percent and 4 percent, capital expenditure of CAD 2.6 billion and free operating cash flow of about CAD 1.8 billion. The comparison matters because the leverage forecast rises from 3.75x to 4.0x, while operating cash generation is also being reduced.

Second quarter shows the split

According to Ad-hoc News on September 22, 2026, TELUS reported second-quarter service revenue of CAD 4.4 billion on July 31, 2026, down 1 percent year over year. Adjusted EBITDA fell 2 percent to CAD 1.8 billion, while the company recorded a CAD 1.8 billion net loss.

The loss included a CAD 2.1 billion non-cash goodwill impairment linked to TELUS Digital. The same quarter also contained operating positives: mobile network revenue rose 1 percent to CAD 1.7 billion, TELUS added 17,000 mobile phone subscribers and 20,000 internet customers, and blended mobile churn was 1.1 percent.

Stock trades near yearly floor

TELUS traded at USD 8.69 on the NYSE on September 22, 2026, down from the prior close of USD 8.75. Volume reached 6,540,776 shares, while market capitalization stood at USD 13.81 billion and the 52-week range ran from USD 8.67 to USD 15.92.

The market data show a narrow distance between the current quote and the yearly low: USD 0.02. The operating figures explain why the stock is being assessed against both subscriber additions and balance-sheet pressure rather than revenue growth alone.

Price remains below analyst consensus

MarketBeat reports that three analysts rate TELUS Buy, nine rate it Hold and four rate it Sell, producing a consensus rating of Reduce and an average target of USD 15.33 on September 22, 2026. A separate MarketBeat summary says Morgan Stanley cut its rating from Equal Weight to Underweight and reduced its target from CAD 20.00 to CAD 13.00 on July 21, 2026.

The ratings are not a single forecast, but they quantify the disagreement between a target well above the NYSE quote and the credit concern reflected in the stable outlook. For investors, the key operating test is whether subscriber additions can offset the combination of declining service revenue, higher capital expenditure and weaker free cash flow.

NYSE quote stays near the low

TELUS closed at USD 8.69 on the NYSE on September 22, 2026, compared with USD 8.75 at the prior close. The same session recorded a 52-week low of USD 8.67, a market capitalization of USD 13.81 billion and volume of 6,540,776 shares.

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