TELUS Digital (NYSE:TIXT) Given New $3.40 Price Target at CIBC

TELUS Digital (NYSE:TIXT - Get Free Report) had its price objective lowered by equities researchers at CIBC from $4.50 to $3.40 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. CIBC's target price suggests a potential downside of 6.46% from the stock's previous close.

TIXT has been the subject of several other reports. BMO Capital Markets lowered their price objective on TELUS Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Scotiabank lowered their price objective on shares of TELUS Digital from $5.00 to $3.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. National Bankshares cut their target price on shares of TELUS Digital from $4.25 to $3.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. TD Securities lifted their price target on shares of TELUS Digital from $3.75 to $4.00 and gave the company a "hold" rating in a research note on Friday, February 14th. Finally, Barclays cut their price objective on shares of TELUS Digital from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.01.

TELUS Digital Price Performance

Shares of NYSE:TIXT traded up $0.03 during trading on Friday, hitting $3.64. 1,120,513 shares of the company were exchanged, compared to its average volume of 477,316. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. TELUS Digital has a 1-year low of $2.13 and a 1-year high of $6.86. The company has a market capitalization of $1.00 billion, a P/E ratio of -10.39, a price-to-earnings-growth ratio of 4.71 and a beta of 0.80. The business's 50 day moving average is $2.69 and its 200-day moving average is $3.16.

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. TELUS Digital had a positive return on equity of 5.73% and a negative net margin of 2.30%. The company had revenue of $647.04 million for the quarter, compared to analysts' expectations of $650.18 million. Equities analysts forecast that TELUS Digital will post 0.32 earnings per share for the current year.

Institutional Trading of TELUS Digital

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in TELUS Digital by 27.3% in the 4th quarter. Blue Trust Inc. now owns 28,560 shares of the company's stock valued at $112,000 after purchasing an additional 6,132 shares during the period. Alberta Investment Management Corp purchased a new stake in TELUS Digital during the fourth quarter worth about $297,000. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in TELUS Digital by 17.5% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 56,135 shares of the company's stock worth $220,000 after buying an additional 8,350 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in TELUS Digital by 52.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 241,896 shares of the company's stock worth $950,000 after acquiring an additional 83,164 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in TELUS Digital by 1.2% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,189,850 shares of the company's stock valued at $12,522,000 after acquiring an additional 38,587 shares during the last quarter. 59.55% of the stock is currently owned by institutional investors.

TELUS Digital Company Profile

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.