TELUS International (Cda) (NYSE:TIXT) Announces Earnings Results, Hits Expectations

TELUS International (Cda) (NYSE:TIXTGet Free Report) released its quarterly earnings results on Friday. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26, MarketWatch Earnings reports. The business had revenue of $692.00 million for the quarter, compared to analyst estimates of $691.00 million. TELUS International (Cda) had a return on equity of 13.01% and a net margin of 1.89%. TELUS International (Cda)’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. TELUS International (Cda) updated its FY24 guidance to $0.93-0.98 EPS and its FY 2024 guidance to 0.930-0.980 EPS.

TELUS International (Cda) Stock Performance

NYSE TIXT opened at $9.40 on Friday. TELUS International has a 1 year low of $6.03 and a 1 year high of $22.52. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $686.95 million, a PE ratio of 62.67, a P/E/G ratio of 8.66 and a beta of 0.85. The company’s 50 day simple moving average is $8.49 and its two-hundred day simple moving average is $8.03.

Institutional Trading of TELUS International (Cda)

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cibc World Market Inc. raised its position in TELUS International (Cda) by 0.8% in the 1st quarter. Cibc World Market Inc. now owns 88,458 shares of the company’s stock worth $2,186,000 after purchasing an additional 728 shares during the period. Citigroup Inc. grew its holdings in TELUS International (Cda) by 18.8% in the 1st quarter. Citigroup Inc. now owns 4,781 shares of the company’s stock worth $96,000 after acquiring an additional 755 shares during the last quarter. BlackRock Inc. boosted its stake in shares of TELUS International (Cda) by 8.2% during the 1st quarter. BlackRock Inc. now owns 17,140 shares of the company’s stock valued at $347,000 after purchasing an additional 1,294 shares in the last quarter. Barclays PLC boosted its stake in shares of TELUS International (Cda) by 11.9% during the 2nd quarter. Barclays PLC now owns 14,100 shares of the company’s stock valued at $214,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of TELUS International (Cda) during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 59.55% of the company’s stock.

Analysts Set New Price Targets

TIXT has been the topic of a number of analyst reports. TD Securities cut their price target on TELUS International (Cda) from $12.00 to $10.50 and set a “buy” rating on the stock in a research note on Monday, November 6th. JPMorgan Chase & Co. reduced their price target on TELUS International (Cda) from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, November 6th. National Bankshares dropped their price target on shares of TELUS International (Cda) from $16.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets decreased their target price on shares of TELUS International (Cda) from $11.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, Barclays decreased their target price on shares of TELUS International (Cda) from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.54.

Read Our Latest Report on TELUS International (Cda)

About TELUS International (Cda)

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TELUS International (Cda) Inc design, builds, and delivers digital solutions for customer experience (CX) in Europe, North America, the Asia-Pacific, and the Central America. 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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Earnings History for TELUS International (Cda) (NYSE:TIXT)

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