BMO Capital Markets Issues Pessimistic Forecast for CGI (TSE:GIB.A) Stock Price

Key Points

• BMO Capital Markets cut its price target on CGI to C$137 (from C$145), implying a potential upside of about 17.5%.
• Consensus remains a Moderate Buy (six Buy, two Hold) with an average analyst target of C$151.40, though brokers have recently issued mixed target adjustments.
• Shares traded around C$116.60 (down 0.4%), below the 50- and 200-day moving averages; the stock has a market cap of C$25.22B, a P/E of 15.86, and last quarter reported EPS of C$2.12 on C$4.08B revenue.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price target lowered by BMO Capital Markets from C$145.00 to C$137.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets' price target would indicate a potential upside of 17.50% from the company's current price.

Several other analysts also recently commented on GIB.A. Desjardins lowered their price objective on CGI from C$169.00 to C$160.00 and set a "buy" rating for the company in a research note on Tuesday, November 4th. Raymond James Financial reduced their price objective on CGI from C$178.00 to C$168.00 in a research note on Thursday, November 6th. Scotiabank set a C$140.00 price objective on shares of CGI and gave the stock a "sector perform" rating in a research report on Tuesday. CIBC lowered their price objective on CGI from C$139.00 to C$132.00 in a research note on Thursday. Finally, Sanford C. Bernstein increased their target price on CGI from C$137.00 to C$142.00 in a research report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$151.40.

CGI Trading Down 0.4%

Shares of CGI stock traded down C$0.49 during 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. The stock has a 50-day moving average price of C$125.89 and a two-hundred day moving average price of C$127.63. CGI has a 52 week low of C$113.60 and a 52 week high of C$175.35. The stock has a market cap 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. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last posted its quarterly earnings data 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 during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Equities research analysts anticipate that CGI will post 8.3679245 EPS 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 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.

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