Desjardins Issues Positive Forecast for Calian Group (TSE:CGY) Stock Price

Key Points

• Desjardins raised Calian Group’s price target to C$109 from C$104 and maintained a “buy” rating, implying 31.31% upside from the prior close.
• Analyst sentiment is broadly positive: all nine tracked analysts rate the stock “Buy,” with a consensus price target of C$101.72.
• Calian shares fell 9.4% to C$83.01 in Friday trading, despite reporting quarterly EPS of C$1.10 and revenue of C$230.4 million.

Calian Group (TSE:CGY - Get Free Report) had its price target increased by analysts at Desjardins from C$104.00 to C$109.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price would indicate a potential upside of 31.31% from the stock's previous close.

CGY has been the topic of several other reports. Stifel Nicolaus set a C$100.00 price target on shares of Calian Group and gave the stock a "buy" rating in a report on Wednesday, May 20th. Royal Bank Of Canada increased their price objective on Calian Group from C$90.00 to C$105.00 and gave the company an "outperform" rating in a report on Friday. Ventum Financial raised their price objective on Calian Group from C$100.00 to C$106.00 and gave the stock a "buy" rating in a research report on Friday. ATB Cormark Capital Markets boosted their target price on Calian Group from C$92.50 to C$98.50 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Finally, Canadian Imperial Bank of Commerce upped their target price on Calian Group from C$93.00 to C$107.00 in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Calian Group has a consensus rating of "Buy" and an average price target of C$101.72.

Calian Group Stock Down 9.4%

Shares of CGY stock traded down C$8.57 during mid-day trading on Friday, hitting C$83.01. 129,228 shares of the stock traded hands, compared to its average volume of 40,606. Calian Group has a 52-week low of C$44.89 and a 52-week high of C$95.50. The stock has a market cap of C$953.87 million, a P/E ratio of 29.13, a P/E/G ratio of 2.50 and a beta of 0.96. The company has a debt-to-equity ratio of 63.54, a current ratio of 1.51 and a quick ratio of 1.20. The stock's fifty day moving average is C$81.57 and its two-hundred day moving average is C$77.39.

Calian Group (TSE:CGY - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$1.10 earnings per share (EPS) for the quarter. The firm had revenue of C$230.40 million for the quarter. Calian Group had a net margin of 3.97% and a return on equity of 10.35%. Equities analysts predict that Calian Group will post 4.9475219 EPS for the current year.

Insider Buying and Selling at Calian Group

In related news, insider Patrick Belanger Houston sold 6,432 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of C$80.91, for a total value of C$520,413.12. Following the transaction, the insider directly owned 22,266 shares of the company's stock, valued at C$1,801,542.06. This represents a 22.41% decrease in their position. 0.63% of the stock is owned by company insiders.

Calian Group Company Profile

Calian Group Ltd operates through four segments namely Advanced Technologies, Health, Learning, and Information Technology. It generates maximum revenue from the Health segment. The company serves health, defence, security, aerospace, engineering, AgTech, and IT industries. Its Health segment includes Clinical Services; Nursing Services; Psychological Services and Medical Property Management. The Advanced Technologies segment includes Engineering Solutions and Services; Nuclear and Environmental Services; Satcom; DOCSIS; Electronics Design and Manufacturing and Agricultural Technology.

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