Computer Modelling Group (TSE:CMG) Trading Down 14.5% Following Analyst Downgrade

Shares of Computer Modelling Group Ltd. (TSE:CMG) were down 14.5% on Wednesday after Raymond James Financial lowered their price target on the stock from C$10.00 to C$7.00. Raymond James Financial currently has an outperform rating on the stock. Computer Modelling Group traded as low as C$4.03 and last traded at C$4.08. Approximately 181,223 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 179,706 shares. The stock had previously closed at C$4.77.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets cut their price objective on Computer Modelling Group from C$7.00 to C$6.00 in a report on Wednesday, November 12th. Ventum Cap Mkts raised shares of Computer Modelling Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Computer Modelling Group from C$6.50 to C$5.50 in a research report on Monday, December 15th. National Bankshares set a C$6.00 target price on Computer Modelling Group and gave the stock a “sector perform” rating in a report on Thursday, December 18th. Finally, Ventum Financial raised shares of Computer Modelling Group from a “neutral” rating to a “buy” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$7.70.

Computer Modelling Group Price Performance

The business’s 50 day simple moving average is C$5.07 and its 200-day simple moving average is C$5.69. The stock has a market capitalization of C$325.96 million, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.97 and a beta of -0.64. The company has a quick ratio of 2.25, a current ratio of 1.27 and a debt-to-equity ratio of 47.62.

Computer Modelling Group (TSE:CMG) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.07 earnings per share (EPS) for the quarter. Computer Modelling Group had a net margin of 19.18% and a return on equity of 33.54%. The business had revenue of C$32.69 million for the quarter. On average, research analysts forecast that Computer Modelling Group Ltd. will post 0.3055122 earnings per share for the current year.

Computer Modelling Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.04 annualized dividend and a yield of 1.0%. Computer Modelling Group’s payout ratio is presently 64.00%.

About Computer Modelling Group

Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. Its capabilities include integrated analysis and optimization, black oil and unconventional simulation, reservoir and production system modelling, post-processor visualization, compositional simulation, thermal processes simulation, and fluid property characterization. The firm has operations in over 60 countries in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.