Telus Digital (NYSE:TIXT) Price Target Cut to $3.40 by Analysts at Morgan Stanley

Telus Digital (NYSE:TIXT) had its target price lowered by Morgan Stanley from $3.49 to $3.40 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Scotiabank raised their price target on shares of Telus Digital from $3.00 to $3.40 and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. BMO Capital Markets reduced their price target on shares of Telus Digital from $4.50 to $3.00 and set a “market perform” rating on the stock in a research note on Monday, May 12th. National Bank Financial downgraded shares of Telus Digital from an “outperform” rating to a “sector perform” rating and set a $4.00 price target on the stock. in a research note on Monday, July 21st. Barclays reduced their price target on shares of Telus Digital from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Telus Digital from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Telus Digital has an average rating of “Hold” and an average price target of $3.84.

Telus Digital Trading Up 1.0%

Shares of Telus Digital stock opened at $3.72 on Monday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.67 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Telus Digital has a 12-month low of $2.13 and a 12-month high of $4.60. The firm’s 50-day moving average price is $3.57 and its two-hundred day moving average price is $3.17.

Telus Digital (NYSE:TIXT) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $711.33 million for the quarter, compared to the consensus estimate of $660.87 million. Telus Digital had a negative net margin of 14.09% and a positive return on equity of 1.92%. On average, analysts forecast that Telus Digital will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Telus Digital

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in Telus Digital by 209.4% during the 4th 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 last quarter. Franklin Resources Inc. lifted its holdings in Telus Digital by 3.3% during the fourth quarter. Franklin Resources Inc. now owns 113,690 shares of the company’s stock valued at $446,000 after purchasing an additional 3,667 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Telus Digital by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 76,811 shares of the company’s stock valued at $301,000 after purchasing an additional 12,366 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Telus Digital by 1.1% during the fourth quarter. Wells Fargo & Company MN now owns 316,626 shares of the company’s stock valued at $1,244,000 after purchasing an additional 3,397 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Telus Digital by 13.0% during the fourth quarter. Bank of Montreal Can now owns 211,122 shares of the company’s stock valued at $829,000 after buying an additional 24,368 shares during the period. 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.