TELUS International (Cda) (NYSE:TIXT) Trading Down 5.1%

TELUS International (Cda) Inc. (NYSE:TIXT)’s stock price fell 5.1% during mid-day trading on Wednesday . The company traded as low as $8.00 and last traded at $8.00. 58,590 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 204,281 shares. The stock had previously closed at $8.43.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TIXT shares. CIBC cut their price objective on 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. BMO Capital Markets raised their price objective on 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. Guggenheim assumed coverage on TELUS International (Cda) in a report on Tuesday, March 19th. They set a “neutral” rating and a $9.00 price target for the company. Canaccord Genuity Group lifted their price target on TELUS International (Cda) from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Barclays lifted their price target on TELUS International (Cda) from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.83.

TELUS International (Cda) Price Performance

The business has a 50-day moving average of $9.34 and a two-hundred day moving average of $8.28. The firm has a market cap of $848.23 million, a P/E ratio of 56.24, a price-to-earnings-growth ratio of 8.90 and a beta of 0.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.80.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted 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 valued at $119,621,000 after purchasing an additional 689,468 shares during the period. Mackenzie Financial Corp lifted its stake in shares of TELUS International (Cda) by 0.7% in the 4th quarter. Mackenzie Financial Corp now owns 10,715,231 shares of the company’s stock valued at $211,292,000 after purchasing an additional 76,649 shares during the period. Capital International Investors lifted its stake in shares of TELUS International (Cda) by 14.5% in the 1st quarter. Capital International Investors now owns 5,536,117 shares of the company’s stock valued at $136,798,000 after purchasing an additional 699,567 shares during the period. Clearbridge Investments LLC acquired a new position in shares of TELUS International (Cda) in the 4th quarter valued at about $26,554,000. Finally, Royal Bank of Canada lifted its stake in shares of TELUS International (Cda) by 13.7% in the 4th quarter. Royal Bank of Canada now owns 2,259,311 shares of the company’s stock valued at $19,385,000 after purchasing an additional 272,473 shares during the period. 59.55% of the stock is 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.