TELUS International (Cda) (NYSE:TIXT) Sees Strong Trading Volume on Better-Than-Expected Earnings

Shares of TELUS International (Cda) Inc. (NYSE:TIXT - Get Free Report) saw an uptick in trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 213,782 shares changed hands during 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. TELUS International (Cda) had a net margin of 1.99% and a return on equity of 11.74%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $675.33 million. During the same quarter last year, the firm posted $0.24 EPS. The business's quarterly revenue was down 4.2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TIXT. TheStreet raised TELUS International (Cda) from a "d" rating to a "c-" rating in a report on Monday, February 12th. Citigroup lowered their price target on TELUS International (Cda) from $10.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday, April 22nd. Canaccord Genuity Group reduced their price objective on TELUS International (Cda) from $16.50 to $16.00 and set a "buy" rating for the company in a research note on Tuesday. Robert W. Baird reduced their price objective on TELUS International (Cda) from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. Finally, BMO Capital Markets reduced their price objective on TELUS International (Cda) from $9.50 to $7.50 and set a "market perform" rating for the company in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $12.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC purchased a new position in shares of TELUS International (Cda) during the fourth quarter valued at approximately $26,554,000. Capital Research Global Investors boosted its holdings in shares of TELUS International (Cda) by 5.2% in the fourth quarter. Capital Research Global Investors now owns 13,941,858 shares of the company's stock valued at $119,621,000 after purchasing an additional 689,468 shares during the period. Forge First Asset Management Inc. purchased a new stake in shares of TELUS International (Cda) in the first quarter valued at approximately $2,758,000. Quadrature Capital Ltd purchased a new stake in shares of TELUS International (Cda) in the third quarter valued at approximately $2,109,000. Finally, 1832 Asset Management L.P. boosted its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 59.55% of the company's stock.

TELUS International (Cda) Price Performance

The firm has a market cap of $680.51 million, a P/E ratio of 42.47, a PEG ratio of 0.99 and a beta of 0.86. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $8.45 and a 200-day simple moving average of $8.36.

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.