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

Cibc World Mkts lowered shares of TELUS International (Cda) (NYSE:TIXT) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

A number of other brokerages have also recently weighed in on TIXT. Barclays dropped their price objective on TELUS International (Cda) from $7.00 to $5.00 and set an equal weight rating for the company in a research note on Monday. JPMorgan Chase & Co. cut TELUS International (Cda) from a neutral rating to an underweight rating and set a $7.00 price objective for the company. in a research note on Wednesday, July 17th. BMO Capital Markets dropped their price objective on TELUS International (Cda) from $7.50 to $4.75 and set a market perform rating for the company in a research note on Monday. Canaccord Genuity Group dropped their price objective on TELUS International (Cda) from $16.50 to $16.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Finally, TD Cowen cut TELUS International (Cda) from a buy rating to a hold rating and lowered their target price for the stock from $10.00 to $3.75 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $8.65.

TELUS International (Cda) Trading Up 1.6 %

NYSE:TIXT traded up $0.05 on Tuesday, reaching $3.10. The company’s stock had a trading volume of 148,308 shares, compared to its average volume of 268,544. TELUS International has a 12-month low of $2.95 and a 12-month high of $11.51. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.78. The firm has a market cap of $331.17 million, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.61 and a beta of 0.74. The stock has a 50 day moving average price of $5.87 and a 200 day moving average price of $7.62.

TELUS International (Cda) (NYSE:TIXT) last issued 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 2.54% and a return on equity of 11.67%. The firm had revenue of $652.00 million during the quarter, compared to analyst estimates of $682.32 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that TELUS International will post 0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TIXT. Clearbridge Investments LLC purchased a new stake in shares of TELUS International (Cda) in the 4th quarter valued at about $26,554,000. Capital Research Global Investors lifted its holdings 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 last quarter. Forge First Asset Management Inc. purchased a new stake in shares of TELUS International (Cda) in the 1st quarter valued at about $2,758,000. 1832 Asset Management L.P. lifted its holdings in shares of TELUS International (Cda) by 23.9% in the 4th quarter. 1832 Asset Management L.P. now owns 1,220,700 shares of the company’s stock valued at $10,474,000 after purchasing an additional 235,500 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of TELUS International (Cda) in the 4th quarter valued at about $1,599,000. 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.