CGI (TSE:GIB.A) Given New C$130.00 Price Target at Raymond James Financial

Key Points

• Raymond James cut its price target on CGI to C$130 (from C$168) while keeping an "outperform" rating, with the new target implying about a 47.71% upside from the current share price.
• Multiple brokers have trimmed targets and ratings recently (RBC downgraded to "sector perform"); MarketBeat's consensus is a "Moderate Buy" with an average price target of C$127.46.
• Shares traded near C$88.01 mid-day; CGI reported C$2.27 EPS and C$4.16 billion in quarterly revenue, with a market cap of C$18.9 billion and a P/E of 11.8.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective dropped by research analysts at Raymond James Financial from C$168.00 to C$130.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 47.71% from the company's current price.

A number of other analysts also recently issued reports on GIB.A. BMO Capital Markets dropped their price target on CGI from C$137.00 to C$122.00 and set an "outperform" rating for the company in a research report on Monday. Royal Bank Of Canada cut CGI from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from C$150.00 to C$100.00 in a report on Thursday. Canaccord Genuity Group lowered their price target on shares of CGI from C$155.00 to C$150.00 and set a "buy" rating for the company in a report on Thursday, January 29th. TD lowered their price target on CGI from C$153.00 to C$102.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Desjardins set a C$149.00 target price on shares of CGI and gave the stock a "buy" rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$127.46.

CGI Stock Performance

Shares of TSE:GIB.A traded down C$1.77 during mid-day trading on Thursday, reaching C$88.01. The company had a trading volume of 701,989 shares, compared to its average volume of 675,954. CGI has a one year low of C$84.70 and a one year high of C$152.63. 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 company's 50-day moving average price is C$100.31 and its 200-day moving average price is C$114.39. The firm 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 (TSE:GIB.A - Get Free Report) NYSE: GIB last released its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 EPS for the quarter. The business had revenue of C$4.16 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, 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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