CGI (TSE:GIB.A) Stock Price Expected to Rise, Scotia Analyst Says

CGI (TSE:GIB.A) (NYSE:GIB) had its price target upped by equities researchers at Scotia from C$95.00 to C$110.00 in a report issued on Thursday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock. Scotia‘s target price points to a potential downside of 5.77% from the company’s current price.

GIB.A has been the subject of a number of other research reports. Royal Bank Of Canada boosted their target price on shares of CGI from C$100.00 to C$115.00 and gave the stock a “sector perform” rating in a research note on Thursday. TD upped their price target on shares of CGI from C$118.00 to C$125.00 and gave the stock a “hold” rating in a research report on Thursday. National Bank Financial raised their price target on shares of CGI from C$135.00 to C$145.00 and gave the company an “outperform” rating in a research note on Thursday. Desjardins lowered their price objective on CGI from C$118.00 to C$115.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on CGI from C$107.00 to C$108.00 in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$128.85.

CGI Stock Performance

TSE GIB.A traded up C$1.13 during mid-day trading on Thursday, reaching C$116.74. 334,444 shares of the stock were exchanged, compared to its average volume of 653,051. The business’s 50 day moving average is C$104.56 and its 200-day moving average is C$100.25. CGI has a 1 year low of C$83.34 and a 1 year high of C$131.97. The company has a market capitalization of C$24.17 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.24 and a beta of 0.29. 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 (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings data on Wednesday, November 11th. The company reported C$2.31 earnings per share for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The company had revenue of C$4.15 billion during the quarter. On average, equities research analysts forecast that CGI will post 8.37 EPS for the current fiscal year.

CGI Company Profile

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.