TELUS International (Cda) (NYSE:TIXT) Sees Strong Trading Volume After Earnings Beat

TELUS International (Cda) Inc. (NYSE:TIXT) shares saw strong trading volume on Friday following a better than expected earnings announcement. 213,782 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 215,569 shares.The stock last traded at $6.29 and had previously closed at $6.36.

The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $657.00 million during the quarter, compared to analyst estimates of $675.33 million. TELUS International (Cda) had a return on equity of 11.74% and a net margin of 1.99%. TELUS International (Cda)’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Securities upped their target price on TELUS International (Cda) from $10.50 to $11.50 and gave the stock a “buy” rating in a report on Monday, February 12th. Robert W. Baird decreased their price objective on TELUS International (Cda) from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, April 19th. TheStreet upgraded TELUS International (Cda) from a “d” rating to a “c-” rating in a report on Monday, February 12th. Guggenheim began coverage on TELUS International (Cda) in a report on Tuesday, March 19th. They set a “neutral” rating and a $9.00 price objective for the company. Finally, Scotiabank lowered TELUS International (Cda) from a “sector outperform” rating to a “sector perform” rating and set a $10.00 price objective for the company. in a report on Friday. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.97.

Institutional Investors Weigh In On TELUS International (Cda)

Institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in TELUS International (Cda) by 101.7% in the 3rd quarter. Barclays PLC now owns 28,433 shares of the company’s stock worth $216,000 after buying an additional 14,333 shares during the last quarter. Swiss National Bank purchased a new position in TELUS International (Cda) in the 3rd quarter worth approximately $1,249,000. Quadrature Capital Ltd purchased a new position in TELUS International (Cda) in the 3rd quarter worth approximately $2,109,000. Walleye Capital LLC lifted its stake in TELUS International (Cda) by 1,357.6% in the 3rd quarter. Walleye Capital LLC now owns 221,661 shares of the company’s stock worth $1,689,000 after purchasing an additional 206,454 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in TELUS International (Cda) by 142.0% in the 4th quarter. Blue Trust Inc. now owns 9,596 shares of the company’s stock worth $82,000 after purchasing an additional 5,631 shares in the last quarter. 59.55% of the stock is currently owned by institutional investors and hedge funds.

TELUS International (Cda) Price Performance

The firm has a market capitalization of $671.96 million, a PE ratio of 41.94, a price-to-earnings-growth ratio of 1.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day simple moving average is $8.45 and its two-hundred day simple moving average is $8.36.

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.