CGI (TSE:GIB.A) Cut to Hold at TD

Key Points

• TD downgraded CGI from buy to hold and trimmed its price target to C$99 from C$102, implying about 10.9% upside from the current share price.
• Other analysts have also turned more cautious, with several firms cutting price targets and RBC lowering its rating to sector perform. Overall, CGI now has a consensus rating of Moderate Buy with an average target price of C$123.62.
• CGI shares were trading lower at C$89.29, near the bottom of their 52-week range, after the company reported quarterly EPS of C$2.27 and revenue of C$4.16 billion.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB was downgraded by research analysts at TD from a "buy" rating to a "hold" rating in a note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$99.00 target price on the stock, down from their prior target price of C$102.00. TD's price target would suggest a potential upside of 10.87% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein dropped their target price on shares of CGI from C$143.00 to C$141.00 in a report on Thursday, April 30th. Royal Bank Of Canada cut shares of CGI from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from C$150.00 to C$100.00 in a research note on Thursday, April 30th. Stifel Nicolaus lowered their target price on CGI from C$160.00 to C$128.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets cut their price target on CGI from C$137.00 to C$122.00 and set an "outperform" rating for the company in a report on Monday, April 27th. Finally, Raymond James Financial reduced their price objective on shares of CGI from C$168.00 to C$130.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$123.62.

CGI Stock Performance

GIB.A stock traded down C$3.11 during midday trading on Thursday, hitting C$89.29. 227,631 shares of the stock traded hands, compared to its average volume of 671,222. 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 has a 1-year low of C$83.34 and a 1-year high of C$142.48. The firm has a market cap of C$18.70 billion, a P/E ratio of 11.66, a PEG ratio of 2.24 and a beta of 0.13. The stock's fifty day simple moving average is C$92.42 and its 200-day simple moving average is C$101.22.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share (EPS) 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$4.16 billion for the quarter. On average, analysts expect that CGI will post 8.3679245 earnings per share for the current year.

CGI Company Profile

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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