TELUS International (Cda) (NYSE:TIXT) Stock Price Down 7.9% – Here’s What Happened

Shares of TELUS International (Cda) Inc. (NYSE:TIXT) were down 7.9% during trading on Tuesday . The company traded as low as $3.86 and last traded at $3.86. Approximately 226,663 shares changed hands during trading, a decline of 40% from the average daily volume of 378,907 shares. The stock had previously closed at $4.19.

Wall Street Analyst Weigh In

Separately, Desjardins upgraded TELUS International (Cda) to a “hold” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, TELUS International (Cda) presently has a consensus rating of “Hold” and a consensus target price of $7.37.

TELUS International (Cda) Stock Performance

The company has a 50-day moving average of $3.82 and a 200-day moving average of $4.21. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -76.20, a price-to-earnings-growth ratio of 1.22 and a beta of 0.67. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. TELUS International (Cda) had a net margin of 1.17% and a return on equity of 9.67%. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.10 million. During the same period last year, the firm posted $0.19 EPS. On average, equities research analysts forecast that TELUS International will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of TELUS International (Cda)

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its stake in TELUS International (Cda) by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,440,050 shares of the company’s stock valued at $48,744,000 after acquiring an additional 472,103 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of TELUS International (Cda) during the third quarter valued at $24,223,000. QV Investors Inc. raised its stake in shares of TELUS International (Cda) by 398.0% during the third quarter. QV Investors Inc. now owns 6,011,720 shares of the company’s stock valued at $23,496,000 after purchasing an additional 4,804,521 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in TELUS International (Cda) by 5.8% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,151,263 shares of the company’s stock worth $12,301,000 after purchasing an additional 173,477 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its position in TELUS International (Cda) by 256.5% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,821,074 shares of the company’s stock valued at $7,110,000 after buying an additional 1,310,287 shares in the last quarter. Institutional investors own 59.55% of the company’s stock.

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.