TELUS International (Cda) (NYSE:TIXT) Lowered to Underperform at Bank of America

Bank of America cut shares of TELUS International (Cda) (NYSE:TIXT) from a buy rating to an underperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports. Bank of America currently has $4.00 target price on the stock, down from their prior target price of $11.00.

Several other research firms have also recently commented on TIXT. BMO Capital Markets decreased their target price on TELUS International (Cda) from $9.50 to $7.50 and set a market perform rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group decreased their target price 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. Barclays decreased their target price on TELUS International (Cda) from $9.00 to $7.00 and set an equal weight rating for the company in a research note on Monday, May 13th. JPMorgan Chase & Co. cut TELUS International (Cda) from a neutral rating to an underweight rating and set a $7.00 target price for the company. in a research note on Wednesday, July 17th. Finally, Robert W. Baird reduced their price objective on TELUS International (Cda) from $10.00 to $9.00 and set a neutral rating for the company in a research note on Friday, April 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $8.65.

TELUS International (Cda) Trading Down 8.1 %

TELUS International (Cda) stock traded down $0.27 during trading hours on Monday, hitting $3.05. The stock had a trading volume of 2,418,743 shares, compared to its average volume of 269,325. TELUS International has a one year low of $2.95 and a one year 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 stock has a market cap of $325.83 million, a price-to-earnings ratio of 21.07, a P/E/G ratio of 0.61 and a beta of 0.74. The business’s 50 day simple moving average is $5.92 and its 200-day simple moving average is $7.66.

TELUS International (Cda) (NYSE:TIXT) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). TELUS International (Cda) had a return on equity of 11.67% and a net margin of 2.54%. The company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $682.32 million. During the same quarter last year, the business earned $0.16 earnings per share. TELUS International (Cda)’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that TELUS International will post 0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS International (Cda)

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors boosted its position in shares of TELUS International (Cda) by 5.2% in the fourth quarter. Capital Research Global Investors now owns 13,941,858 shares of the company’s stock valued at $119,621,000 after acquiring an additional 689,468 shares during the period. Clearbridge Investments LLC bought a new position in shares of TELUS International (Cda) in the fourth quarter valued at approximately $26,554,000. 1832 Asset Management L.P. boosted its position in shares of TELUS International (Cda) by 5.3% in the first quarter. 1832 Asset Management L.P. now owns 1,285,270 shares of the company’s stock valued at $10,873,000 after acquiring an additional 64,570 shares during the period. Forge First Asset Management Inc. bought a new position in shares of TELUS International (Cda) in the first quarter valued at approximately $2,758,000. Finally, TD Asset Management Inc boosted its position in shares of TELUS International (Cda) by 2.1% in the second quarter. TD Asset Management Inc now owns 254,914 shares of the company’s stock valued at $1,472,000 after acquiring an additional 5,351 shares during the period. 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.