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

TELUS Digital (NYSE:TIXT) had its target price decreased by equities research analysts at BMO Capital Markets from $4.50 to $3.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 1.52% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus started coverage on shares of TELUS Digital in a report on Thursday, January 16th. They set a “buy” rating and a $5.00 price objective on the stock. 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 report on Tuesday, April 29th. National Bank Financial raised shares of TELUS Digital from a “sector perform” rating to an “outperform” rating in a research note on Friday. Stifel Canada raised TELUS Digital to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, National Bankshares cut their price objective on TELUS Digital from $4.25 to $3.00 and set a “sector perform” rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.07.

TELUS Digital Price Performance

TELUS Digital stock traded up $0.25 during trading hours on Monday, hitting $2.96. 503,984 shares of the company traded hands, compared to its average volume of 396,706. The firm’s 50-day simple moving average is $2.59 and its two-hundred day simple moving average is $3.31. The firm has a market cap of $814.55 million, a P/E ratio of -8.45, a P/E/G ratio of 4.71 and a beta 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 quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.72.

TELUS Digital (NYSE:TIXT) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $647.04 million for the quarter, compared to the consensus estimate 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, analysts forecast that TELUS Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of TELUS Digital

Large investors have recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in shares of TELUS Digital by 26.7% during the 1st quarter. National Bank of Canada FI now owns 92,189 shares of the company’s stock valued at $244,000 after buying an additional 19,427 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of TELUS Digital by 4.1% in the 1st quarter. Bank of Nova Scotia now owns 257,784 shares of the company’s stock worth $692,000 after purchasing an additional 10,053 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TELUS Digital by 87.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,086 shares of the company’s stock worth $102,000 after purchasing an additional 17,764 shares during the last quarter. TD Asset Management Inc raised its stake in shares of TELUS Digital by 4.0% in the first quarter. TD Asset Management Inc now owns 260,719 shares of the company’s stock worth $699,000 after purchasing an additional 9,992 shares during the last quarter. Finally, QV Investors Inc. boosted its position 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 valued at $16,233,000 after buying an additional 41,235 shares during the last quarter. 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.