National Bank Financial Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price target lifted by equities research analysts at National Bank Financial from C$135.00 to C$145.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial‘s target price would suggest a potential upside of 24.21% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Desjardins lowered their target price on CGI from C$118.00 to C$115.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Stifel Nicolaus raised their target price on shares of CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price target on shares of CGI from C$107.00 to C$108.00 in a research report on Thursday, July 30th. Finally, TD upped their price target on shares of CGI from C$99.00 to C$118.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CGI presently has an average rating of “Moderate Buy” and an average target price of C$128.85.

CGI Price Performance

Shares of TSE:GIB.A traded up C$1.13 during midday trading on Thursday, reaching C$116.74. 334,444 shares of the company were exchanged, compared to its average volume of 653,051. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The business’s fifty day moving average is C$104.56 and its two-hundred day moving average is C$100.25. CGI has a one year low of C$83.34 and a one year high of C$131.97. The stock has a market cap of C$24.17 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.24 and a beta of 0.29.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings results on Wednesday, November 11th. The company reported C$2.31 earnings per share (EPS) for the quarter. The company had revenue of C$4.15 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, analysts predict that CGI will post 8.37 earnings per share 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 94,000 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.