TELUS International (Cda) Inc. (NYSE:TIXT) Receives Consensus Rating of “Reduce” from Brokerages

Shares of TELUS International (Cda) Inc. (NYSE:TIXT) have earned a consensus rating of “Reduce” from the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.55.

Several brokerages recently commented on TIXT. Scotiabank cut their price objective on shares of TELUS International (Cda) from $10.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets reduced their price target on shares of TELUS International (Cda) from $7.50 to $4.75 and set a “market perform” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada cut TELUS International (Cda) from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $5.00 in a research report on Monday, August 5th. CIBC downgraded TELUS International (Cda) from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 6th. Finally, TD Securities restated a “hold” rating and issued a $3.75 price target (down previously from $10.00) on shares of TELUS International (Cda) in a research note on Tuesday, August 6th.

TELUS International (Cda) Stock Performance

NYSE TIXT opened at $3.91 on Wednesday. The firm has a market cap of $417.71 million, a price-to-earnings ratio of 39.10, a PEG ratio of 1.26 and a beta of 0.69. TELUS International has a 12-month low of $2.83 and a 12-month high of $11.51. The company has a 50-day simple moving average of $3.62 and a two-hundred day simple moving average of $5.46. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.75.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $652.00 million for the quarter, compared to analysts’ expectations of $682.32 million. TELUS International (Cda) had a net margin of 2.70% and a return on equity of 11.66%. The company’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. On average, equities analysts forecast that TELUS International will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. QV Investors Inc. increased its stake in shares of TELUS International (Cda) by 398.0% in the 3rd quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock worth $23,496,000 after purchasing an additional 4,804,521 shares in the last quarter. Mackenzie Financial Corp increased its position in TELUS International (Cda) by 5.9% in the second quarter. Mackenzie Financial Corp now owns 8,440,050 shares of the company’s stock worth $48,744,000 after buying an additional 472,103 shares in the last quarter. Forge First Asset Management Inc. bought a new position in shares of TELUS International (Cda) in the first quarter worth about $2,758,000. National Bank of Canada FI lifted its position in shares of TELUS International (Cda) by 971.6% during the 2nd quarter. National Bank of Canada FI now owns 75,443 shares of the company’s stock valued at $441,000 after buying an additional 68,403 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of TELUS International (Cda) by 5.3% during the 1st 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. 59.55% of the stock is currently owned by 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.