TELUS International (Cda) (NYSE:TIXT) Price Target Cut to $9.00

TELUS International (Cda) (NYSE:TIXT) had its price target decreased by Robert W. Baird from $10.00 to $9.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 15.16% from the company’s previous close.

A number of other analysts also recently commented on TIXT. CIBC cut their price objective on shares of TELUS International (Cda) from $21.50 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th. 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 for the company. Canaccord Genuity Group increased their price objective on shares of TELUS International (Cda) from $14.50 to $16.50 and gave the company a “buy” rating in a report on Monday, February 12th. Citigroup raised their price target on shares of TELUS International (Cda) from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, TD Securities raised their price target 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, TELUS International (Cda) has a consensus rating of “Hold” and an average price target of $13.83.

TELUS International (Cda) Stock Down 1.6 %

TIXT opened at $7.82 on Friday. TELUS International has a twelve month low of $6.03 and a twelve month high of $21.75. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $9.29 and a 200 day moving average price of $8.28. The company has a market cap of $834.88 million, a PE ratio of 52.10, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90.

TELUS International (Cda) (NYSE:TIXT) last released its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $692.00 million during the quarter, compared to the consensus estimate of $691.00 million. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. Sell-side analysts expect that TELUS International will post 0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FIL Ltd boosted its stake in TELUS International (Cda) by 9.8% during the 4th quarter. FIL Ltd now owns 97,763 shares of the company’s stock valued at $840,000 after acquiring an additional 8,744 shares during the last quarter. Nuveen Asset Management LLC bought a new position in TELUS International (Cda) during the 4th quarter valued at $488,000. Royal Bank of Canada boosted its stake in TELUS International (Cda) by 13.7% during the 4th quarter. Royal Bank of Canada now owns 2,259,311 shares of the company’s stock valued at $19,385,000 after acquiring an additional 272,473 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in TELUS International (Cda) by 83.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 81,289 shares of the company’s stock valued at $698,000 after acquiring an additional 36,957 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in TELUS International (Cda) during the 4th quarter valued at $339,000. 59.55% of the stock is currently owned by hedge funds and other 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.