TD Cowen Downgrades TELUS International (Cda) (NYSE:TIXT) to Hold

TD Cowen lowered shares of TELUS International (Cda) (NYSE:TIXT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $3.75 price objective on the stock, down from their prior price objective of $10.00.

TIXT has been the topic of several other research reports. Bank of America lowered shares of TELUS International (Cda) from a buy rating to an underperform rating and reduced their target price for the company from $11.00 to $4.00 in a report on Monday, August 5th. William Blair lowered shares of TELUS International (Cda) from an outperform rating to a market perform rating in a report on Friday, August 2nd. Barclays cut 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 report on Monday, May 13th. Citigroup cut their price target on shares of TELUS International (Cda) from $10.00 to $8.50 and set a neutral rating on the stock in a report on Monday, April 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $7.55.

TELUS International (Cda) Price Performance

Shares of NYSE:TIXT traded down $0.02 during trading on Tuesday, reaching $2.98. The company had a trading volume of 653,366 shares, compared to its average volume of 281,159. The company has a fifty day moving average of $5.71 and a two-hundred day moving average of $7.51. The stock has a market capitalization of $318.35 million, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 0.97 and a beta of 0.74. TELUS International has a 12 month low of $2.93 and a 12 month high of $11.51. The company has a current ratio of 1.09, a quick ratio of 1.16 and a debt-to-equity ratio of 0.75.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Clearbridge Investments LLC purchased a new position in TELUS International (Cda) during the 4th quarter valued at about $26,554,000. Forge First Asset Management Inc. purchased a new position in TELUS International (Cda) during the 1st quarter valued at about $2,758,000. Swiss National Bank lifted its position in TELUS International (Cda) by 2.1% during the 1st quarter. Swiss National Bank now owns 149,000 shares of the company’s stock valued at $1,261,000 after acquiring an additional 3,000 shares during the period. Intact Investment Management Inc. purchased a new position in TELUS International (Cda) in the fourth quarter worth about $1,599,000. Finally, Russell Investments Group Ltd. raised its holdings in TELUS International (Cda) by 12.4% in the first quarter. Russell Investments Group Ltd. now owns 95,390 shares of the company’s stock worth $809,000 after buying an additional 10,501 shares during the last quarter. 59.55% of the stock is owned by hedge funds and other institutional investors.

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.