Wall Street Zen Upgrades Telus Digital (NYSE:TIXT) to Buy

Telus Digital (NYSE:TIXT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other analysts have also recently commented on the company. National Bank Financial raised Telus Digital from a "sector perform" rating to an "outperform" rating in a research note on Friday, May 9th. BMO Capital Markets decreased their price target on shares of Telus Digital from $4.50 to $3.00 and set a "market perform" rating for the company in a research note on Monday, May 12th. Scotiabank raised their target price on shares of Telus Digital from $3.00 to $3.40 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Barclays decreased their target price on shares of Telus Digital from $5.00 to $3.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.05.

Telus Digital Stock Performance

TIXT opened at $3.75 on Friday. The business has a fifty day simple moving average of $3.19 and a 200-day simple moving average of $3.15. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.03 billion, a PE ratio of -7.65, a P/E/G ratio of 2.23 and a beta of 0.90. Telus Digital has a fifty-two week low of $2.13 and a fifty-two week high of $6.86.

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

Hedge Funds Weigh In On Telus Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in shares of Telus Digital by 31.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,868,451 shares of the company's stock worth $42,673,000 after buying an additional 2,578,241 shares during the period. QV Investors Inc. boosted its holdings in shares of Telus Digital by 0.7% during the first quarter. QV Investors Inc. now owns 6,052,635 shares of the company's stock worth $16,233,000 after acquiring an additional 41,235 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 acquiring an additional 1,198,312 shares during the period. 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 acquiring an additional 1,418,119 shares during the period. Finally, Medina Value Partners LLC bought a new stake in shares of Telus Digital during the fourth quarter worth approximately $8,211,000. 59.55% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.