Royal Bank of Canada Downgrades TELUS International (Cda) (NYSE:TIXT) to Sector Perform

Royal Bank of Canada downgraded shares of TELUS International (Cda) (NYSE:TIXT) from an outperform rating to a sector perform rating in a research note released on Monday, Marketbeat.com reports. Royal Bank of Canada currently has $5.00 price target on the stock, down from their prior price target of $10.00.

Other equities analysts have also recently issued research reports about the stock. Barclays dropped their price target on shares of TELUS International (Cda) from $9.00 to $7.00 and set an equal weight rating on the stock in a research note on Monday, May 13th. Canaccord Genuity Group cut their price target on shares of TELUS International (Cda) from $16.50 to $16.00 and set a buy rating on the stock in a report on Tuesday, May 7th. JPMorgan Chase & Co. lowered shares of TELUS International (Cda) from a neutral rating to an underweight rating and set a $7.00 price objective for the company. in a report on Wednesday, July 17th. Scotiabank downgraded TELUS International (Cda) from a sector outperform rating to a sector perform rating and cut their target price for the company from $13.00 to $10.00 in a research note on Friday, May 10th. Finally, William Blair cut TELUS International (Cda) from an outperform rating to a market perform rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $7.55.

TELUS International (Cda) Price Performance

Shares of NYSE TIXT opened at $3.00 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.16 and a current ratio of 1.09. The company has a market capitalization of $320.49 million, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.97 and a beta of 0.74. The company has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $7.55. TELUS International has a fifty-two week low of $2.93 and a fifty-two week high of $11.51.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). TELUS International (Cda) had a net margin of 2.70% and a return on equity of 11.66%. The company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $682.32 million. During the same period last year, the business earned $0.16 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts expect that TELUS International will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TIXT. SG Americas Securities LLC bought a new position in shares of TELUS International (Cda) during the 4th quarter valued at approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of TELUS International (Cda) in the fourth quarter worth approximately $132,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of TELUS International (Cda) by 49.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,341 shares of the company’s stock worth $166,000 after purchasing an additional 6,406 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $117,000 after purchasing an additional 4,973 shares during the period. Finally, Aristides Capital LLC purchased a new position in shares of TELUS International (Cda) during the 4th quarter valued at $184,000. Institutional investors own 59.55% of the company’s stock.

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.