TD Downgrades CGI (TSE:GIB.A) to Hold

CGI (TSE:GIB.A) (NYSE:GIB) was downgraded by investment analysts at TD from a “buy” rating to a “hold” rating in a note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$99.00 price objective on the stock, down from their prior price objective of C$102.00. TD’s price objective would suggest a potential upside of 5.78% from the stock’s current price.

Several other research analysts also recently commented on GIB.A. Canaccord Genuity Group lowered their price objective on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. BMO Capital Markets reduced their target price on CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. National Bank Financial set a C$135.00 price target on CGI and gave the company an “outperform” rating in a research note on Friday, June 12th. Stifel Nicolaus lowered their price target on CGI from C$160.00 to C$128.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Scotiabank lowered their price target on CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$123.62.

CGI Price Performance

GIB.A stock opened at C$93.59 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. CGI has a 12 month low of C$83.34 and a 12 month high of C$142.48. The firm has a market cap of C$19.60 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.24 and a beta of 0.13. The company’s 50-day moving average price is C$92.64 and its two-hundred day moving average price is C$100.92.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$2.27 earnings per share for the quarter. The company had revenue of C$4.16 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. On average, analysts anticipate that CGI will post 8.3679245 earnings per share 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 94,000 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.