TELUS International (Cda) (NYSE:TIXT) Downgraded by Bank of America

Bank of America downgraded shares of TELUS International (Cda) (NYSE:TIXT) from a buy rating to an underperform rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has $4.00 price target on the stock, down from their previous price target of $11.00.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of TELUS International (Cda) from a neutral rating to an underweight rating and set a $7.00 price target for the company. in a research report on Wednesday, July 17th. 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 report on Monday, May 13th. Robert W. Baird cut their price target on TELUS International (Cda) from $10.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Citigroup decreased their price objective on TELUS International (Cda) from $10.00 to $8.50 and set a neutral rating for the company in a report on Monday, April 22nd. Finally, BMO Capital Markets cut their target price on shares of TELUS International (Cda) from $9.50 to $7.50 and set a market perform rating on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $7.55.

TELUS International (Cda) Stock Performance

Shares of TELUS International (Cda) stock opened at $3.00 on Monday. The business has a 50-day simple moving average of $5.76 and a 200-day simple moving average of $7.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.16 and a current ratio of 1.09. TELUS International has a one year low of $2.93 and a one year high of $11.51. The company has a market cap of $320.49 million, a PE ratio of 20.00, a P/E/G ratio of 0.97 and a beta of 0.74.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.16 EPS 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 analyst estimates of $682.32 million. TELUS International (Cda) had a return on equity of 11.66% and a net margin of 2.70%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts forecast that TELUS International will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS International (Cda)

A number of institutional investors have recently added to or reduced their stakes in TIXT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TELUS International (Cda) by 32.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,322 shares of the company’s stock worth $117,000 after buying an additional 4,973 shares in the last quarter. SG Americas Securities LLC purchased a new position in TELUS International (Cda) in the fourth quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in TELUS International (Cda) in the fourth quarter valued at $132,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of TELUS International (Cda) by 49.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,341 shares of the company’s stock worth $166,000 after purchasing an additional 6,406 shares in the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of TELUS International (Cda) during the 4th quarter worth $184,000. Hedge funds and other institutional investors own 59.55% of the company’s stock.

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.