Desjardins Has Lowered Expectations for CGI (TSE:GIB.A) Stock Price

Key Points

• Desjardins lowered CGI’s price target from C$118 to C$115 while maintaining a “buy” rating, implying 16.89% potential upside from the stock’s current price.
• Analyst sentiment remains positive overall: CGI has a “Moderate Buy” consensus rating and an average price target of C$124, based on seven buy ratings and five holds.
• CGI shares rose 0.1% to C$98.38, while the company’s latest quarter included C$2.29 in earnings per share and C$4.19 billion in revenue.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective reduced by analysts at Desjardins from C$118.00 to C$115.00 in a research note issued to investors on Thursday, BayStreet reports. The firm currently has a "buy" rating on the stock. Desjardins' price objective would suggest a potential upside of 16.89% from the company's current price.

A number of other brokerages have also recently commented on GIB.A. Stifel Nicolaus increased their price target on shares of CGI from C$110.00 to C$120.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price objective on shares of CGI from C$107.00 to C$108.00 in a research note on Thursday, July 30th. TD upped their target price on shares of CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a report on Thursday, July 30th. Finally, National Bank Financial set a C$135.00 price target on CGI and gave the stock an "outperform" rating in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, CGI presently has a consensus rating of "Moderate Buy" and a consensus price target of C$124.00.

CGI Stock Up 0.1%

Shares of TSE:GIB.A traded up C$0.09 during trading on Thursday, hitting C$98.38. 163,674 shares of the company were exchanged, compared to its average volume of 651,602. CGI has a fifty-two week low of C$83.34 and a fifty-two week high of C$131.97. The stock has a market cap of C$20.37 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.24 and a beta of 0.20. 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 firm has a fifty day moving average price of C$100.78 and a two-hundred day moving average price of C$97.10.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last released its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 EPS for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%.The company had revenue of C$4.19 billion during the quarter. As a group, research analysts anticipate that CGI will post 8.3679245 earnings per share for the current fiscal 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.

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