Computer Modelling Group (TSE:CMG) Trading Down 14.5% After Analyst Downgrade

Computer Modelling Group Ltd. (TSE:CMG)’s share price was down 14.5% during mid-day trading on Wednesday after Raymond James Financial lowered their price target on the stock from C$10.00 to C$7.00. Raymond James Financial currently has an outperform rating on the stock. Computer Modelling Group traded as low as C$4.03 and last traded at C$4.08. Approximately 181,223 shares changed hands during trading, an increase of 1% from the average daily volume of 179,706 shares. The stock had previously closed at C$4.77.

Several other brokerages have also issued reports on CMG. Canadian Imperial Bank of Commerce lowered their target price on Computer Modelling Group from C$6.50 to C$5.50 in a research report on Monday, December 15th. National Bank Financial set a C$6.00 price objective on Computer Modelling Group and gave the stock a “sector perform” rating in a research report on Thursday, December 18th. BMO Capital Markets cut their price objective on Computer Modelling Group from C$7.00 to C$6.00 in a research note on Wednesday, November 12th. Ventum Cap Mkts raised shares of Computer Modelling Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, Ventum Financial upgraded shares of Computer Modelling Group from a “neutral” rating to a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.13.

Computer Modelling Group Trading Down 18.4%

The firm’s 50 day simple moving average is C$5.04 and its two-hundred day simple moving average is C$5.68. The stock has a market capitalization of C$321.82 million, a P/E ratio of 15.56, a P/E/G ratio of 1.97 and a beta of -0.64. The company has a quick ratio of 2.25, a current ratio of 1.27 and a debt-to-equity ratio of 47.62.

Computer Modelling Group (TSE:CMG) last issued its earnings results on Tuesday, February 10th. The company reported C$0.07 EPS for the quarter. Computer Modelling Group had a return on equity of 33.54% and a net margin of 19.18%.The company had revenue of C$32.69 million during the quarter. As a group, analysts forecast that Computer Modelling Group Ltd. will post 0.3055122 earnings per share for the current fiscal year.

Computer Modelling Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. Computer Modelling Group’s payout ratio is currently 64.00%.

About Computer Modelling Group

Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. Its capabilities include integrated analysis and optimization, black oil and unconventional simulation, reservoir and production system modelling, post-processor visualization, compositional simulation, thermal processes simulation, and fluid property characterization. The firm has operations in over 60 countries in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.