Canaccord Genuity Group Cuts TELUS International (Cda) (NYSE:TIXT) Price Target to $16.00

TELUS International (Cda) (NYSE:TIXT) had its target price reduced by research analysts at Canaccord Genuity Group from $16.50 to $16.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 154.78% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. TheStreet upgraded shares of TELUS International (Cda) from a “d” rating to a “c-” rating in a research note on Monday, February 12th. Barclays reduced their target price on shares of TELUS International (Cda) from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. TD Securities raised their target price on shares of TELUS International (Cda) from $10.50 to $11.50 and gave the stock a “buy” rating in a report on Monday, February 12th. Guggenheim started coverage on shares of TELUS International (Cda) in a report on Tuesday, March 19th. They set a “neutral” rating and a $9.00 target price on the stock. Finally, Robert W. Baird dropped their target price on shares of TELUS International (Cda) from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.10.

TELUS International (Cda) Trading Down 1.3 %

NYSE:TIXT traded down $0.08 during trading hours on Tuesday, reaching $6.28. 245,246 shares of the company were exchanged, compared to its average volume of 216,768. The firm has a market cap of $670.89 million, a price-to-earnings ratio of 42.34, a PEG ratio of 1.00 and a beta of 0.86. The stock has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.36. TELUS International has a 52-week low of $6.03 and a 52-week high of $17.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.14 and a quick ratio of 1.14.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly 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. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The business had revenue of $657.00 million during the quarter, compared to analyst estimates of $675.33 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts predict that TELUS International will post 0.89 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIXT. Barclays PLC increased its holdings in TELUS International (Cda) by 101.7% in the 3rd quarter. Barclays PLC now owns 28,433 shares of the company’s stock worth $216,000 after buying an additional 14,333 shares during the period. Swiss National Bank acquired a new stake in shares of TELUS International (Cda) during the 3rd quarter worth approximately $1,249,000. Quadrature Capital Ltd purchased a new position in shares of TELUS International (Cda) during the 3rd quarter valued at approximately $2,109,000. Walleye Capital LLC lifted its position in shares of TELUS International (Cda) by 1,357.6% during the 3rd quarter. Walleye Capital LLC now owns 221,661 shares of the company’s stock valued at $1,689,000 after buying an additional 206,454 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in TELUS International (Cda) by 142.0% in the 4th quarter. Blue Trust Inc. now owns 9,596 shares of the company’s stock valued at $82,000 after purchasing an additional 5,631 shares in the last quarter. 59.55% of the stock is currently owned by institutional investors.

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.