Citigroup Lowers TELUS International (Cda) (NYSE:TIXT) Price Target to $8.50

TELUS International (Cda) (NYSE:TIXT) had its price target cut by Citigroup from $10.00 to $8.50 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on TIXT. Robert W. Baird lowered their price target on TELUS International (Cda) from $10.00 to $9.00 and set a neutral rating for the company in a research report on Friday, April 19th. TD Securities raised their price target on TELUS International (Cda) from $10.50 to $11.50 and gave the stock a buy rating in a research note on Monday, February 12th. BMO Capital Markets boosted their price objective on shares of TELUS International (Cda) from $8.00 to $10.50 and gave the company a market perform rating in a research report on Monday, February 12th. Barclays upped their price objective on shares of TELUS International (Cda) from $10.00 to $12.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Finally, Canaccord Genuity Group lifted their target price on shares of TELUS International (Cda) from $14.50 to $16.50 and gave the company a buy rating in a research note on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $13.73.

TELUS International (Cda) Stock Performance

NYSE:TIXT opened at $8.32 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.14 and a current ratio of 1.14. TELUS International has a fifty-two week low of $6.03 and a fifty-two week high of $20.57. The business has a 50 day moving average price of $9.13 and a 200-day moving average price of $8.30. The firm has a market cap of $888.83 million, a PE ratio of 55.47, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $692.00 million for the quarter, compared to analyst estimates of $691.00 million. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Equities research analysts predict that TELUS International will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On TELUS International (Cda)

Large investors have recently made changes to their positions in the business. Capital Research Global Investors grew its stake in shares of TELUS International (Cda) by 5.2% in the 4th quarter. Capital Research Global Investors now owns 13,941,858 shares of the company’s stock worth $119,621,000 after buying an additional 689,468 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of TELUS International (Cda) in the fourth quarter worth $26,554,000. 1832 Asset Management L.P. increased its holdings in shares of TELUS International (Cda) by 23.9% during the fourth quarter. 1832 Asset Management L.P. now owns 1,220,700 shares of the company’s stock valued at $10,474,000 after acquiring an additional 235,500 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of TELUS International (Cda) by 7.6% during the third quarter. TD Asset Management Inc now owns 297,208 shares of the company’s stock valued at $2,271,000 after acquiring an additional 20,919 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of TELUS International (Cda) in the 3rd quarter worth about $2,109,000. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

About TELUS International (Cda)

TELUS International (Cda) Inc design, builds, and delivers digital solutions for customer experience (CX) in the Asia-Pacific, the Central America, Europe, Africa, North America, and internationally. The company provides digital experience solutions, such as AI and bots, omnichannel CX, enterprise mobility solutions, cloud contact center, big data analytics, platform transformation, and UX/UI design; and customer experience solutions, including work anywhere/work from home, contact center outsourcing, technical support, sales growth and customer retention, healthcare/patient experience, and debt collection.