TELUS International (Cda) (NYSE:TIXT) Shares Gap Down to $5.81

TELUS International (Cda) Inc. (NYSE:TIXT)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $5.81, but opened at $5.66. TELUS International (Cda) shares last traded at $5.68, with a volume of 57,720 shares.

Analyst Ratings Changes

TIXT has been the subject of several analyst reports. Canaccord Genuity Group decreased their price objective on TELUS International (Cda) from $16.50 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. CIBC lowered their price target on shares of TELUS International (Cda) from $21.50 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 20th. Scotiabank lowered TELUS International (Cda) from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $13.00 to $10.00 in a report on Friday, May 10th. Robert W. Baird lowered their price target on shares of 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. Finally, BMO Capital Markets reduced their target price on 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. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.83.

TELUS International (Cda) Price Performance

The business has a 50-day simple moving average of $6.55 and a 200 day simple moving average of $8.12. The stock has a market cap of $621.75 million, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 0.83 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. TELUS International (Cda) had a net margin of 2.54% and a return on equity of 11.67%. The company had revenue of $657.00 million for the quarter, compared to analyst estimates of $675.33 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that TELUS International will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TIXT. Clearbridge Investments LLC acquired a new position in TELUS International (Cda) in the fourth quarter valued at approximately $26,554,000. Capital Research Global Investors lifted its position in shares of TELUS International (Cda) by 5.2% during the 4th quarter. Capital Research Global Investors now owns 13,941,858 shares of the company’s stock valued at $119,621,000 after acquiring an additional 689,468 shares during the period. Forge First Asset Management Inc. bought a new position in TELUS International (Cda) during the first quarter worth $2,758,000. Quadrature Capital Ltd acquired a new stake in TELUS International (Cda) in the third quarter worth $2,109,000. Finally, 1832 Asset Management L.P. increased its stake in TELUS International (Cda) by 23.9% in the fourth quarter. 1832 Asset Management L.P. now owns 1,220,700 shares of the company’s stock valued at $10,474,000 after purchasing an additional 235,500 shares in the last quarter. 59.55% of the stock is owned by institutional investors and hedge funds.

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.