CIBC Cuts CGI (TSE:GIB.A) Price Target to C$132.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective reduced by equities research analysts at CIBC from C$139.00 to C$132.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 13.21% from the stock’s current price.

A number of other equities research analysts have also issued reports on GIB.A. Royal Bank Of Canada reduced their target price on shares of CGI from C$165.00 to C$150.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities cut their price objective on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating on the stock in a report on Friday, October 3rd. Desjardins dropped their price target on CGI from C$169.00 to C$160.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Sanford C. Bernstein upped their target price on shares of CGI from C$137.00 to C$142.00 in a report on Thursday, November 6th. Finally, Scotiabank set a C$140.00 price target on CGI and gave the stock a “sector perform” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$151.40.

CGI Trading Down 0.4%

CGI stock traded down C$0.49 during mid-day trading on Thursday, hitting C$116.60. The company’s stock had a trading volume of 544,511 shares, compared to its average volume of 524,447. CGI has a 1 year low of C$113.60 and a 1 year high of C$175.35. The stock’s fifty day moving average is C$125.89 and its two-hundred day moving average is C$127.63. The firm has a market capitalization of C$25.22 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. 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 announced its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The business had revenue of C$4.08 billion during the quarter. On average, analysts anticipate 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.