Canaccord Genuity Group Lowers CGI (TSE:GIB.A) Price Target to C$140.00

Key Points

• Canaccord Genuity cut its price target on CGI from C$150 to C$140 but kept a "buy" rating, a target that implies roughly a 59.07% upside from the prior close.
• Analyst coverage is mixed but leans positive: eight Buy and four Hold ratings, with a MarketBeat average target of C$127.46 and an average rating of "Moderate Buy."
• CGI shares traded at C$88.01 mid-day; the company has a market cap of C$18.9B, a P/E of 11.8, and reported quarterly EPS of C$2.27 on C$4.16B revenue.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective cut by research analysts at Canaccord Genuity Group from C$150.00 to C$140.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 59.07% from the stock's previous close.

Several other brokerages also recently weighed in on GIB.A. TD Securities lifted their target price on CGI from C$145.00 to C$153.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Scotia cut their target price on CGI from C$120.00 to C$110.00 and set a "sector perform" rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce cut their target price on CGI from C$132.00 to C$112.00 in a research note on Friday, April 17th. Raymond James Financial lowered their price target on CGI from C$168.00 to C$130.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Desjardins set a C$149.00 price target on CGI and gave the company a "buy" rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, CGI presently has an average rating of "Moderate Buy" and an average target price of C$127.46.

CGI Stock Performance

Shares of TSE GIB.A traded down C$1.77 during mid-day trading on Thursday, hitting C$88.01. The company had a trading volume of 701,989 shares, compared to its average volume of 675,954. The firm's 50 day simple moving average is C$100.31 and its two-hundred day simple moving average is C$114.39. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market cap of C$18.90 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.24 and a beta of 0.09. CGI has a 12 month low of C$84.70 and a 12 month high of C$152.63.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced its earnings results on Wednesday, April 29th. The company reported C$2.27 earnings per share for the quarter. The firm had revenue of C$4.16 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. As a group, equities research analysts forecast that CGI will post 8.3679245 earnings per share 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.

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