CGI (TSE:GIB.A) Given New C$117.00 Price Target at Desjardins

CGI (TSE:GIB.A) (NYSE:GIB) had its target price cut by analysts at Desjardins from C$147.00 to C$117.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 23.35% from the company’s current price.

A number of other research firms have also recently commented on GIB.A. Scotiabank lowered their price target on CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Royal Bank Of Canada cut CGI from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$150.00 to C$100.00 in a research report on Thursday, April 30th. Sanford C. Bernstein lowered their target price on CGI from C$143.00 to C$141.00 in a research note on Thursday, April 30th. Raymond James Financial dropped their target price on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce reduced their price target on shares of CGI from C$132.00 to C$112.00 in a research note on Friday, April 17th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$123.85.

CGI Price Performance

Shares of TSE GIB.A traded down C$1.17 during trading hours on Tuesday, hitting C$94.85. 206,554 shares of the stock were exchanged, compared to its average volume of 671,837. The company’s fifty day simple moving average is C$92.13 and its two-hundred day simple moving average is C$101.69. The company has a market cap of C$19.86 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.13. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. CGI has a 1-year low of C$83.34 and a 1-year high of C$142.48.

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

About CGI

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.