Canaccord Genuity Group Issues Pessimistic Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its target price cut by stock analysts at Canaccord Genuity Group from C$155.00 to C$150.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 28.64% from the company’s current price.

GIB.A has been the subject of several other reports. Scotiabank set a C$140.00 price target on shares of CGI and gave the company a “sector perform” rating in a research report on Tuesday. Raymond James Financial decreased their price objective on CGI from C$178.00 to C$168.00 in a report on Thursday, November 6th. Royal Bank Of Canada cut their target price on CGI from C$165.00 to C$150.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities increased their price target on CGI from C$145.00 to C$153.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets cut their price objective on CGI from C$145.00 to C$137.00 in a research note on Thursday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, CGI has an average rating of “Moderate Buy” and an average target price of C$151.40.

CGI Price Performance

GIB.A traded down C$0.49 on Thursday, reaching C$116.60. The stock had a trading volume of 544,511 shares, compared to its average volume of 524,447. 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 company has a market capitalization of C$25.22 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. CGI has a fifty-two week low of C$113.60 and a fifty-two week high of C$175.35. The firm has a 50-day moving average of C$125.89 and a 200-day moving average of C$127.63.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share for the quarter. The company had revenue of C$4.08 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. As a group, sell-side 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.