William Blair Downgrades TELUS International (Cda) (NYSE:TIXT) to Market Perform

TELUS International (Cda) (NYSE:TIXT) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Briefing.com reports.

Several other equities analysts have also issued reports on TIXT. 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 research report on Friday, May 10th. JPMorgan Chase & Co. downgraded TELUS International (Cda) from a “neutral” rating to an “underweight” rating and set a $7.00 price objective for the company. in a report on Wednesday, July 17th. Robert W. Baird dropped their price target on TELUS International (Cda) from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Canaccord Genuity Group lowered their price objective on TELUS International (Cda) from $16.50 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TELUS International (Cda) presently has an average rating of “Hold” and an average price target of $11.21.

TELUS International (Cda) Stock Performance

Shares of NYSE:TIXT traded down $2.26 during trading on Friday, reaching $4.22. The stock had a trading volume of 2,345,943 shares, compared to its average volume of 238,674. TELUS International has a 52 week low of $4.20 and a 52 week high of $11.51. The stock has a fifty day simple moving average of $6.00 and a two-hundred day simple moving average of $7.75. The firm has a market capitalization of $450.82 million, a price-to-earnings ratio of 28.13, a P/E/G ratio of 0.99 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.78.

TELUS International (Cda) (NYSE:TIXT) last issued its earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $675.33 million. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts anticipate that TELUS International will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of TELUS International (Cda)

A number of large investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in shares of TELUS International (Cda) by 2.1% during the first quarter. Swiss National Bank now owns 149,000 shares of the company’s stock worth $1,261,000 after buying an additional 3,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TELUS International (Cda) by 32.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,322 shares of the company’s stock worth $117,000 after purchasing an additional 4,973 shares during the period. Blue Trust Inc. increased its stake in shares of TELUS International (Cda) by 142.0% during the fourth quarter. Blue Trust Inc. now owns 9,596 shares of the company’s stock worth $82,000 after purchasing an additional 5,631 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of TELUS International (Cda) by 49.5% during the fourth 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 during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its position in TELUS International (Cda) by 12.1% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 60,700 shares of the company’s stock worth $514,000 after buying an additional 6,560 shares in the last quarter. 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.