CGI (TSE:GIB.A) Stock Price Expected to Rise, Scotia Analyst Says

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective raised by equities researchers at Scotia from C$95.00 to C$110.00 in a report issued on Thursday, BayStreet reports. The brokerage currently has a “sector perform” rating on the stock. Scotia‘s target price would indicate a potential downside of 5.77% from the company’s current price.

Several other equities analysts have also commented on the stock. TD increased their price objective on shares of CGI from C$118.00 to C$125.00 and gave the company a “hold” rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on shares of CGI from C$100.00 to C$115.00 and gave the stock a “sector perform” rating in a research report on Thursday. Canadian Imperial Bank of Commerce boosted their target price on shares of CGI from C$107.00 to C$108.00 in a research report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of CGI from C$120.00 to C$130.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Desjardins decreased their price target on shares of CGI from C$118.00 to C$115.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$128.85.

CGI Stock Up 1.0%

Shares of TSE GIB.A traded up C$1.13 during midday trading on Thursday, reaching C$116.74. 334,444 shares of the company’s stock traded hands, compared to its average volume of 653,051. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The stock’s 50 day simple moving average is C$104.56 and its 200-day simple moving average is C$100.25. CGI has a one year low of C$83.34 and a one year high of C$131.97. The company has a market cap of C$24.17 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.24 and a beta of 0.29.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its earnings results on Wednesday, November 11th. The company reported C$2.31 earnings per share (EPS) for the quarter. The company had revenue of C$4.15 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. On average, analysts predict that CGI will post 8.37 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 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.