TELUS International (Cda) (NYSE:TIXT) Price Target Cut to $8.50

TELUS International (Cda) (NYSE:TIXT) had its target price cut by Citigroup from $10.00 to $8.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 5.79% from the company’s previous close.

A number of other brokerages also recently issued reports on TIXT. Canaccord Genuity Group lifted their price target on TELUS International (Cda) from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, February 12th. Robert W. Baird cut their price target on shares of 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. Barclays raised their price objective on shares of TELUS International (Cda) from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. BMO Capital Markets upped their target price on shares of TELUS International (Cda) from $8.00 to $10.50 and gave the stock a “market perform” rating in a research report on Monday, February 12th. Finally, Guggenheim initiated coverage on TELUS International (Cda) in a research report on Tuesday, March 19th. They set a “neutral” rating and a $9.00 price target on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TELUS International (Cda) has an average rating of “Hold” and an average target price of $13.73.

TELUS International (Cda) Stock Up 0.3 %

TIXT stock opened at $8.04 on Monday. The firm has a market capitalization of $858.38 million, a PE ratio of 53.57, a P/E/G ratio of 8.23 and a beta of 0.90. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.80. TELUS International has a twelve month low of $6.03 and a twelve month high of $21.75. The stock’s 50 day moving average is $9.17 and its 200-day moving average is $8.30.

TELUS International (Cda) (NYSE:TIXT) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 return on equity of 11.74% and a net margin of 1.99%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Sell-side analysts expect that TELUS International will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On TELUS International (Cda)

Several large investors have recently made changes to their positions in TIXT. Barclays PLC grew its holdings in shares of TELUS International (Cda) by 101.7% during the third quarter. Barclays PLC now owns 28,433 shares of the company’s stock worth $216,000 after buying an additional 14,333 shares in the last quarter. Swiss National Bank purchased a new position in TELUS International (Cda) in the 3rd quarter worth approximately $1,249,000. Ronald Blue Trust Inc. acquired a new position in shares of TELUS International (Cda) during the 3rd quarter worth approximately $30,000. Quadrature Capital Ltd purchased a new stake in shares of TELUS International (Cda) in the third quarter valued at approximately $2,109,000. Finally, Walleye Capital LLC increased its holdings in shares of TELUS International (Cda) by 1,357.6% in the third quarter. Walleye Capital LLC now owns 221,661 shares of the company’s stock valued at $1,689,000 after purchasing an additional 206,454 shares during the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

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.