Desjardins Issues Pessimistic Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its price target dropped by stock analysts at Desjardins from C$147.00 to C$117.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 26.62% from the company’s previous close.

A number of other brokerages also recently weighed in on GIB.A. BMO Capital Markets lowered their price target on CGI from C$137.00 to C$122.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Stifel Nicolaus reduced 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, April 28th. Royal Bank Of Canada downgraded shares of CGI from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$150.00 to C$100.00 in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce lowered their target price on shares of CGI from C$132.00 to C$112.00 in a research note on Friday, April 17th. Finally, TD dropped their target price on shares of CGI from C$153.00 to C$102.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CGI has a consensus rating of “Moderate Buy” and a consensus target price of C$123.85.

CGI Stock Down 1.8%

TSE:GIB.A opened at C$92.40 on Tuesday. The company has a market capitalization of C$19.35 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.13. CGI has a one year low of C$83.34 and a one year high of C$142.48. The stock has a 50-day simple moving average of C$92.42 and a 200 day simple moving average of C$101.22. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings data 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 firm had revenue of C$4.16 billion for the quarter. Sell-side 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.