CGI (TSE:GIB.A) Price Target Cut to C$122.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets cut its price target for CGI from C$137 to C$122 while maintaining an "outperform" rating, indicating about a 21.5% upside from the current price.
• Multiple other brokers have revised targets (mostly lower); consensus across analysts is a "Moderate Buy" with an average price target of C$141.60.
• CGI is trading near C$100.38, well below analyst targets; the company has a market cap of C$21.56 billion, a P/E of 13.46 and a 52‑week range of C$95.84–C$152.63.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective reduced by research analysts at BMO Capital Markets from C$137.00 to C$122.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 21.54% from the company's current price.

Several other research analysts have also recently weighed in on GIB.A. National Bank Financial lowered their price objective on CGI from C$185.00 to C$150.00 and set an "outperform" rating on the stock in a research report on Monday. TD Securities increased their price objective on CGI from C$145.00 to C$153.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Desjardins lowered their price objective on CGI from C$157.00 to C$149.00 in a research report on Tuesday, April 21st. Royal Bank Of Canada decreased their target price on CGI from C$165.00 to C$150.00 and set an "outperform" rating on the stock in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce decreased their target price on CGI from C$132.00 to C$112.00 in a research report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CGI presently has a consensus rating of "Moderate Buy" and an average price target of C$141.60.

CGI Stock Performance

CGI stock traded up C$1.04 during mid-day trading on Monday, hitting C$100.38. 219,201 shares of the company's stock traded hands, compared to its average volume of 654,893. The firm has a 50 day simple moving average of C$100.55 and a two-hundred day simple moving average of C$114.92. CGI has a fifty-two week low of C$95.84 and a fifty-two week high of C$152.63. The stock has a market cap of C$21.56 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.24 and a beta of 0.09. 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 announced its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share (EPS) for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%.The business had revenue of C$4.08 billion during the quarter. On average, research analysts expect that CGI will post 8.3679245 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.