Scotiabank Issues Positive Forecast for Telus Digital (NYSE:TIXT) Stock Price

Telus Digital (NYSE:TIXT - Free Report) had its price target lifted by Scotiabank from $3.00 to $3.40 in a research note released on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Barclays decreased their price objective on Telus Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. National Bank Financial raised Telus Digital from a "sector perform" rating to an "outperform" rating in a report on Friday, May 9th. National Bankshares decreased their price objective on Telus Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. BMO Capital Markets decreased their price objective on Telus Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Finally, CIBC decreased their price objective on Telus Digital from $4.50 to $3.40 and set a "neutral" rating for the company in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.05.

Telus Digital Stock Performance

TIXT traded up $0.04 on Tuesday, reaching $3.66. 827,560 shares of the stock were exchanged, compared to its average volume of 481,749. The company's 50-day moving average price is $2.82 and its 200 day moving average price is $3.16. Telus Digital has a fifty-two week low of $2.13 and a fifty-two week high of $6.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $1.01 billion, a PE ratio of -7.46, a PEG ratio of 2.07 and a beta of 0.80.

Telus Digital (NYSE:TIXT - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. Telus Digital had a positive return on equity of 3.40% and a negative net margin of 4.27%. The company had revenue of $647.04 million during the quarter, compared to analysts' expectations of $650.18 million. As a group, sell-side analysts forecast that Telus Digital will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Telus Digital

Large investors have recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new position in Telus Digital in the 4th quarter worth about $37,000. Two Sigma Securities LLC purchased a new position in shares of Telus Digital in the fourth quarter valued at approximately $42,000. Bayesian Capital Management LP purchased a new position in shares of Telus Digital in the fourth quarter valued at approximately $45,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Telus Digital in the first quarter valued at approximately $58,000. Finally, PDT Partners LLC purchased a new position in shares of Telus Digital in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 59.55% of the company's stock.

About Telus Digital

TELUS Digital 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.