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

CGI (TSE:GIB.A) (NYSE:GIB) had its target price decreased by analysts at Scotiabank from C$140.00 to C$120.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 20.80% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of CGI from C$145.00 to C$137.00 in a report on Thursday, January 29th. TD Securities upped their price objective on shares of CGI from C$145.00 to C$153.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Canadian Imperial Bank of Commerce decreased their price objective on shares of CGI from C$132.00 to C$112.00 in a report on Friday, April 17th. Royal Bank Of Canada decreased their price target on shares of CGI from C$165.00 to C$150.00 and set an “outperform” rating for the company in a report on Monday, January 26th. Finally, Canaccord Genuity Group decreased their price target on shares of CGI from C$155.00 to C$150.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, CGI has an average rating of “Moderate Buy” and a consensus target price of C$142.33.

CGI Trading Down 0.7%

Shares of TSE:GIB.A opened at C$99.34 on Friday. The stock has a market capitalization of C$21.33 billion, a PE ratio of 13.32, a P/E/G ratio of 2.24 and a beta of 0.09. CGI has a 1 year low of C$95.84 and a 1 year high of C$152.63. The firm has a fifty day moving average price of C$100.55 and a 200 day moving average price of C$115.00. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its quarterly earnings data on Wednesday, January 28th. The company reported C$2.12 earnings per share (EPS) for the quarter. The firm had revenue of C$4.08 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. 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.