Sanford C. Bernstein Has Lowered Expectations for CGI (TSE:GIB.A) Stock Price

Key Points

• Sanford C. Bernstein cut its price target for CGI from C$143.00 to C$141.00, a level that still implies roughly a 60.21% upside from the stock's previous close.
• Other brokers have also trimmed targets (ranging roughly C$112–C$150); the MarketBeat consensus target is C$127.46 and the analyst consensus rating is "Moderate Buy" (eight Buys, four Holds).
• CGI shares traded at C$88.01 (down ~2%), and the company recently reported quarterly EPS of C$2.27 on C$4.16 billion revenue; market cap is about C$18.9 billion with a PE of 11.8.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective reduced by Sanford C. Bernstein from C$143.00 to C$141.00 in a note issued to investors on Thursday,BayStreet.CA reports. Sanford C. Bernstein's price target points to a potential upside of 60.21% from the stock's previous close.

A number of other equities analysts have also weighed in on GIB.A. Desjardins set a C$149.00 target price on CGI and gave the stock a "buy" rating in a research note on Wednesday. Royal Bank Of Canada decreased their price target on CGI from C$165.00 to C$150.00 and set an "outperform" rating on the stock in a research note on Monday, January 26th. National Bank Financial dropped their target price on CGI from C$185.00 to C$150.00 and set an "outperform" rating for the company in a research report on Monday. Canadian Imperial Bank of Commerce cut their target price on CGI from C$132.00 to C$112.00 in a report on Friday, April 17th. Finally, Stifel Nicolaus dropped their price objective on CGI from C$160.00 to C$128.00 and set a "buy" rating on the stock in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$127.46.

CGI Stock Down 2.0%

GIB.A traded down C$1.77 on Thursday, hitting C$88.01. 701,989 shares of the company were exchanged, compared to its average volume of 675,954. CGI has a 12 month low of C$84.70 and a 12 month high of C$152.63. The company has a market cap of C$18.90 billion, a PE ratio of 11.80, a PEG ratio of 2.24 and a beta of 0.09. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The stock's fifty day moving average is C$100.31 and its 200-day moving average is C$114.39.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last released its earnings results on Wednesday, April 29th. The company reported C$2.27 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$4.16 billion for the quarter. Equities research analysts predict 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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