Telus Digital (NYSE:TIXT) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Telus Digital experienced a significant trading volume increase of 128%, with 1,733,884 shares traded, reflecting heightened investor interest.
• Wall Street analysts have downgraded Telus Digital's stock rating, with the consensus rating now at "Hold" and an average target price of $3.93.
• Despite a 0.6% decline in stock price to $4.48, Telus Digital recently reported earnings that exceeded analyst expectations, with a revenue of $711.33 million for the quarter.

Telus Digital (NYSE:TIXT - Get Free Report) saw strong trading volume on Friday . 1,733,884 shares were traded during trading, an increase of 128% from the previous session's volume of 760,083 shares.The stock last traded at $4.48 and had previously closed at $4.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TIXT shares. Stifel Canada cut Telus Digital from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Scotiabank lifted their price target on Telus Digital from $3.40 to $4.50 and gave the stock a "sector perform" rating in a research note on Thursday, September 4th. Wall Street Zen downgraded Telus Digital from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Stifel Nicolaus cut Telus Digital from a "buy" rating to a "hold" rating and lifted their price target for the company from $4.00 to $4.50 in a report on Wednesday, September 3rd. Finally, National Bank Financial cut Telus Digital from an "outperform" rating to a "sector perform" rating and set a $4.00 target price on the stock. in a report on Monday, July 21st. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Telus Digital has a consensus rating of "Hold" and an average target price of $3.93.

Telus Digital Stock Down 0.6%

The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.22 and a beta of 0.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. The firm's 50-day moving average price is $3.95 and its 200 day moving average price is $3.23.

Telus Digital (NYSE:TIXT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.99%. The firm had revenue of $711.33 million for the quarter, compared to analyst estimates of $660.87 million. Telus Digital has set its FY 2025 guidance at 0.320-0.320 EPS. On average, sell-side analysts forecast that Telus Digital will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Telus Digital

Institutional investors have recently added to or reduced their stakes in the stock. Scoggin Management LP bought a new position in Telus Digital during the second quarter worth about $2,011,000. Moore Capital Management LP bought a new stake in Telus Digital during the second quarter valued at approximately $508,000. LMR Partners LLP purchased a new position in shares of Telus Digital during the second quarter worth approximately $1,089,000. BNP Paribas Financial Markets raised its stake in shares of Telus Digital by 141.2% during the second quarter. BNP Paribas Financial Markets now owns 73,778 shares of the company's stock worth $268,000 after acquiring an additional 43,184 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Telus Digital by 2,799.1% during the second quarter. Jane Street Group LLC now owns 329,371 shares of the company's stock worth $1,196,000 after acquiring an additional 318,010 shares in the last quarter. Institutional investors own 59.55% of the company's stock.

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.

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