Royal Bank Of Canada Issues Pessimistic Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its target price reduced by analysts at Royal Bank Of Canada from C$165.00 to C$150.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 22.38% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. TD Securities reduced their price objective on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating for the company in a report on Friday, October 3rd. Desjardins decreased their price objective on shares of CGI from C$169.00 to C$160.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Sanford C. Bernstein increased their price target on CGI from C$137.00 to C$142.00 in a research note on Thursday, November 6th. Raymond James Financial lowered their target price on shares of CGI from C$178.00 to C$168.00 in a report on Thursday, November 6th. Finally, CIBC lowered shares of CGI from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$146.00 to C$139.00 in a research report on Monday, December 15th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$163.40.

CGI Trading Up 0.1%

TSE GIB.A traded up C$0.18 during trading hours on Monday, hitting C$122.57. 259,372 shares of the company’s stock were exchanged, compared to its average volume of 448,790. The stock has a 50-day simple moving average of C$125.96 and a 200 day simple moving average of C$127.95. The firm has a market cap of C$26.51 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.24 and a beta of 0.23. 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 has a 1-year low of C$117.71 and a 1-year high of C$175.35.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$2.13 EPS for the quarter. The business had revenue of C$4.01 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. On average, equities analysts forecast 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.