TELUS Digital (NYSE:TIXT) Price Target Cut to $3.00 by Analysts at BMO Capital Markets

TELUS Digital (NYSE:TIXT - Free Report) had its target price trimmed by BMO Capital Markets from $4.50 to $3.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other equities analysts have also recently issued reports on TIXT. Stifel Nicolaus initiated coverage on TELUS Digital in a report on Thursday, January 16th. They issued a "buy" rating and a $5.00 price objective for the company. National Bankshares dropped their target price on TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Barclays cut their target price on TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. National Bank Financial raised shares of TELUS Digital from a "sector perform" rating to an "outperform" rating in a research note on Friday, May 9th. Finally, Stifel Canada raised shares of TELUS Digital to a "strong-buy" rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.07.

TELUS Digital Price Performance

Shares of TELUS Digital stock traded up $0.03 during trading on Monday, hitting $2.86. The stock had a trading volume of 175,711 shares, compared to its average volume of 398,154. The firm has a market cap of $786.98 million, a price-to-earnings ratio of -8.16, a P/E/G ratio of 4.71 and a beta of 0.72. TELUS Digital has a 12 month low of $2.13 and a 12 month high of $6.86. The business's 50-day moving average is $2.59 and its 200 day moving average is $3.29. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72.

TELUS Digital (NYSE:TIXT - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $647.04 million for the quarter, compared to analysts' expectations of $650.18 million. TELUS Digital had a negative net margin of 2.30% and a positive return on equity of 5.73%. As a group, sell-side analysts anticipate that TELUS Digital will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On TELUS Digital

A number of hedge funds and other institutional investors have recently modified their holdings of TIXT. Mackenzie Financial Corp lifted its stake in shares of TELUS Digital by 31.1% in the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock valued at $42,673,000 after acquiring an additional 2,578,241 shares during the last quarter. Medina Value Partners LLC purchased a new stake in shares of TELUS Digital during the fourth quarter worth about $8,211,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TELUS Digital by 209.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,095,220 shares of the company's stock worth $8,222,000 after purchasing an additional 1,418,119 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of TELUS Digital by 27.2% during the fourth quarter. Clearbridge Investments LLC now owns 5,606,794 shares of the company's stock worth $21,979,000 after purchasing an additional 1,198,312 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of TELUS Digital by 365.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,609 shares of the company's stock worth $2,904,000 after purchasing an additional 580,726 shares during the period. Institutional investors 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.