TELUS International (Cda) (NYSE:TIXT) Shares Down 9.8%

TELUS International (Cda) Inc. (NYSE:TIXT)’s share price fell 9.8% during mid-day trading on Thursday . The stock traded as low as $7.01 and last traded at $7.01. 71,669 shares traded hands during trading, a decline of 65% from the average session volume of 206,389 shares. The stock had previously closed at $7.77.

Wall Street Analyst Weigh In

TIXT has been the topic of several research reports. Guggenheim began coverage on shares of TELUS International (Cda) in a report on Tuesday, March 19th. They issued a “neutral” rating and a $9.00 price objective on the stock. Scotiabank lowered shares of TELUS International (Cda) from a “sector outperform” rating to a “sector perform” rating and set a $10.00 price target on the stock. in a research note on Friday. TD Securities raised their price objective on shares of TELUS International (Cda) from $10.50 to $11.50 and gave the stock a “buy” rating in a research report on Monday, February 12th. Barclays decreased their target price on TELUS International (Cda) from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Canaccord Genuity Group reduced their price target on TELUS International (Cda) from $16.50 to $16.00 and set a “buy” rating for the company in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.10.

TELUS International (Cda) Price Performance

The firm has a market cap of $669.82 million, a P/E ratio of 42.34, a PEG ratio of 1.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50-day moving average is $8.45 and its two-hundred day moving average is $8.36.

TELUS International (Cda) (NYSE:TIXT) last issued its earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $675.33 million. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. Sell-side analysts anticipate that TELUS International will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS International (Cda)

A number of large investors have recently modified their holdings of TIXT. TD Asset Management Inc boosted its stake in shares of TELUS International (Cda) by 7.6% in the 3rd quarter. TD Asset Management Inc now owns 297,208 shares of the company’s stock valued at $2,271,000 after purchasing an additional 20,919 shares in the last quarter. Barclays PLC boosted its position in TELUS International (Cda) by 101.7% in the third quarter. Barclays PLC now owns 28,433 shares of the company’s stock valued at $216,000 after buying an additional 14,333 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of TELUS International (Cda) by 57.8% during the third quarter. Quantbot Technologies LP now owns 18,435 shares of the company’s stock worth $140,000 after buying an additional 6,755 shares during the last quarter. Swiss National Bank acquired a new position in shares of TELUS International (Cda) during the third quarter worth $1,249,000. Finally, Shell Asset Management Co. bought a new position in shares of TELUS International (Cda) in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 59.55% of the company’s stock.

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.