Desjardins Has Lowered Expectations for CGI (TSE:GIB.A) Stock Price

Key Points

• Desjardins cut its price target on CGI from C$147 to C$117, though it kept a buy rating on the stock. The new target still implies about 23.35% upside from the previous close.
• Other analysts have also reduced their targets recently, including Canaccord Genuity, Raymond James, Stifel, and BMO, while the overall consensus remains a Moderate Buy with an average price target of C$123.85.
• CGI shares were down 1.2% to C$94.85 in Tuesday trading. The company recently reported C$2.27 EPS on C$4.16 billion in revenue for the quarter.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective lowered by investment analysts at Desjardins from C$147.00 to C$117.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 23.35% from the stock's previous close.

Several other equities research analysts have also recently commented on GIB.A. Canaccord Genuity Group lowered their target price on CGI from C$150.00 to C$140.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Sanford C. Bernstein lowered their price objective on shares of CGI from C$143.00 to C$141.00 in a research report on Thursday, April 30th. Raymond James Financial lowered 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 report on Thursday, April 30th. Stifel Nicolaus dropped their price target on shares of CGI from C$160.00 to C$128.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Finally, BMO Capital Markets decreased their price objective on shares of CGI from C$137.00 to C$122.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, CGI presently has an average rating of "Moderate Buy" and a consensus price target of C$123.85.

CGI Stock Down 1.2%

Shares of TSE GIB.A traded down C$1.17 during mid-day trading on Tuesday, reaching C$94.85. The company had a trading volume of 206,554 shares, compared to its average volume of 671,837. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. CGI has a twelve month low of C$83.34 and a twelve month high of C$142.48. The stock's 50 day moving average is C$92.13 and its 200-day moving average is C$101.69. The stock has a market capitalization of C$19.86 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.13.

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 earnings per share (EPS) for the quarter. The business had revenue of C$4.16 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, equities analysts anticipate that CGI will post 8.3679245 earnings per share 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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