CGI (TSE:GIB.A) Lowered to Hold Rating by TD

CGI (TSE:GIB.A) (NYSE:GIB) was downgraded by equities researchers at TD from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a C$99.00 price objective on the stock, down from their previous price objective of C$102.00. TD’s target price would indicate a potential upside of 10.87% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets decreased their target price on CGI from C$137.00 to C$122.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Scotia reduced their price objective on CGI from C$120.00 to C$110.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. National Bank Financial set a C$135.00 price objective on shares of CGI and gave the stock an “outperform” rating in a report on Friday, June 12th. Scotiabank lowered their price objective on CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce cut their target price on CGI from C$132.00 to C$112.00 in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$123.62.

CGI Stock Performance

Shares of GIB.A traded down C$3.11 during midday trading on Thursday, reaching C$89.29. The stock had a trading volume of 227,631 shares, compared to its average volume of 671,222. The firm has a market cap of C$18.70 billion, a PE ratio of 11.66, a P/E/G ratio of 2.24 and a beta of 0.13. The firm has a 50 day simple moving average of C$92.42 and a 200-day simple moving average of C$101.22. CGI has a one year low of C$83.34 and a one year high of C$142.48. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings results on Wednesday, April 29th. The company reported C$2.27 earnings per share for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%.The business had revenue of C$4.16 billion during the quarter. As a group, sell-side analysts anticipate that CGI will post 8.3679245 EPS for the current year.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.