CGI (TSE:GIB.A) PT Set at C$149.00 by Desjardins

Key Points

• Desjardins set a C$149 price objective and a "buy" rating on CGI, implying about a 65.96% upside from the current share price.
• Shares traded down to C$89.78 mid-day (down C$10.86) on heavy volume (~2.17M vs. average ~670k), sitting near its 1‑year low (C$84.70) and well below its 1‑year high (C$152.63).
• The analyst consensus is a "Moderate Buy" (eight Buy, two Hold) with a consensus target of C$140.36; CGI reported C$2.27 EPS and C$4.16B revenue for the quarter and trades at a P/E of 12.03 with a C$19.28B market cap.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB has been given a C$149.00 price objective by analysts at Desjardins in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target would suggest a potential upside of 65.96% from the company's current price.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets cut their target price on CGI from C$137.00 to C$122.00 and set an "outperform" rating on the stock in a research report on Monday. Royal Bank Of Canada decreased their target price on CGI from C$165.00 to C$150.00 and set an "outperform" rating for the company in a research note on Monday, January 26th. TD Securities increased their price target on CGI from C$145.00 to C$153.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Canadian Imperial Bank of Commerce reduced their price objective on CGI from C$132.00 to C$112.00 in a research note on Friday, April 17th. Finally, Stifel Nicolaus cut their price target on CGI from C$160.00 to C$128.00 and set a "buy" rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, CGI currently has a consensus rating of "Moderate Buy" and a consensus target price of C$140.36.

CGI Stock Performance

Shares of TSE GIB.A traded down C$10.86 during mid-day trading on Wednesday, hitting C$89.78. 2,166,823 shares of the company were exchanged, compared to its average volume of 670,378. CGI has a 1-year low of C$84.70 and a 1-year high of C$152.63. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The stock has a 50 day simple moving average of C$100.54 and a 200-day simple moving average of C$114.56. The firm has a market cap of C$19.28 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last released its quarterly earnings results on Wednesday, April 29th. The company reported C$2.27 earnings per share (EPS) for the quarter. The business had revenue of C$4.16 billion during the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. On average, sell-side analysts forecast 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.

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