TELUS International (Cda) (NYSE:TIXT) Lowered to Hold at Cibc World Mkts

TELUS International (Cda) (NYSE:TIXT) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group decreased their price target on TELUS International (Cda) from $16.50 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Bank of America lowered TELUS International (Cda) from a “buy” rating to an “underperform” rating and decreased their price target for the company from $11.00 to $4.00 in a research report on Monday. TD Securities reiterated a “hold” rating and issued a $3.75 price target (down previously from $10.00) on shares of TELUS International (Cda) in a research report on Tuesday. Royal Bank of Canada lowered TELUS International (Cda) from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $10.00 to $5.00 in a research report on Monday. Finally, TD Cowen lowered TELUS International (Cda) from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $3.75 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.65.

TELUS International (Cda) Price Performance

NYSE:TIXT traded up $0.08 during mid-day trading on Tuesday, reaching $3.13. 88,824 shares of the stock were exchanged, compared to its average volume of 268,150. The business has a fifty day moving average price of $5.87 and a 200 day moving average price of $7.62. The firm has a market capitalization of $334.38 million, a PE ratio of 21.13, a PEG ratio of 0.61 and a beta of 0.74. TELUS International has a 1-year low of $2.95 and a 1-year high of $11.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.

TELUS International (Cda) (NYSE:TIXT) last released its earnings results on Friday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). TELUS International (Cda) had a return on equity of 11.67% and a net margin of 2.54%. The firm had revenue of $652.00 million for the quarter, compared to analyst estimates of $682.32 million. During the same period in the previous year, the firm earned $0.16 earnings per share. TELUS International (Cda)’s revenue was down 2.2% on a year-over-year basis. Research analysts expect that TELUS International will post 0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELUS International (Cda)

Several institutional investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its holdings in shares of TELUS International (Cda) by 971.6% during the 2nd quarter. National Bank of Canada FI now owns 75,443 shares of the company’s stock valued at $441,000 after buying an additional 68,403 shares during the last quarter. TD Asset Management Inc increased its position in TELUS International (Cda) by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 254,914 shares of the company’s stock worth $1,472,000 after buying an additional 5,351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TELUS International (Cda) by 32.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,322 shares of the company’s stock worth $117,000 after purchasing an additional 4,973 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of TELUS International (Cda) by 5.3% during the 1st quarter. 1832 Asset Management L.P. now owns 1,285,270 shares of the company’s stock worth $10,873,000 after purchasing an additional 64,570 shares in the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in TELUS International (Cda) in the 1st quarter valued at $2,758,000. 59.55% of the stock is currently owned by institutional investors and hedge funds.

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.