Scotiabank Downgrades TELUS International (Cda) (NYSE:TIXT) to Sector Perform

TELUS International (Cda) (NYSE:TIXT) was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $10.00 price objective on the stock. Scotiabank’s price objective would suggest a potential upside of 59.24% from the company’s current price.

Several other analysts also recently issued reports on TIXT. Canaccord Genuity Group decreased their price objective on shares of TELUS International (Cda) from $16.50 to $16.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird dropped their target price on shares of 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. CIBC dropped their target price on shares of TELUS International (Cda) from $21.50 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Citigroup dropped their target price on shares of TELUS International (Cda) from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Finally, Barclays dropped their target price on shares of TELUS International (Cda) from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, TELUS International (Cda) has an average rating of “Hold” and an average target price of $13.10.

TELUS International (Cda) Stock Performance

TELUS International (Cda) stock traded down $0.08 during midday trading on Friday, reaching $6.28. 245,246 shares of the stock traded hands, compared to its average volume of 216,768. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $8.45 and a two-hundred day moving average price of $8.36. The firm has a market cap of $670.89 million, a price-to-earnings ratio of 42.34, a PEG ratio of 1.00 and a beta of 0.86. TELUS International has a fifty-two week low of $6.03 and a fifty-two week high of $17.56.

TELUS International (Cda) (NYSE:TIXT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The business had revenue of $657.00 million for the quarter, compared to analyst estimates of $675.33 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that TELUS International will post 0.89 earnings per share for the current year.

Institutional Trading of TELUS International (Cda)

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of TELUS International (Cda) by 101.7% in the third quarter. Barclays PLC now owns 28,433 shares of the company’s stock worth $216,000 after acquiring an additional 14,333 shares during the last quarter. Swiss National Bank purchased a new stake in shares of TELUS International (Cda) during the third quarter valued at $1,249,000. Quadrature Capital Ltd bought a new position in TELUS International (Cda) in the third quarter valued at about $2,109,000. Walleye Capital LLC lifted its holdings in TELUS International (Cda) by 1,357.6% in the third quarter. Walleye Capital LLC now owns 221,661 shares of the company’s stock valued at $1,689,000 after acquiring an additional 206,454 shares during the period. Finally, Blue Trust Inc. lifted its holdings in TELUS International (Cda) by 142.0% in the fourth quarter. Blue Trust Inc. now owns 9,596 shares of the company’s stock valued at $82,000 after acquiring an additional 5,631 shares during the period. Institutional investors own 59.55% of the company’s stock.

TELUS International (Cda) Company Profile

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.