Royal Bank Of Canada Cuts CGI (TSE:GIB.A) Price Target to C$150.00

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

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

CGI Stock Up 0.1%

Shares of GIB.A traded up C$0.18 during midday trading on Monday, reaching C$122.57. 259,372 shares of the company were exchanged, compared to its average volume of 448,790. The stock has a 50-day moving average price of C$125.96 and a 200-day moving average price of C$127.95. The company has a market cap of C$26.51 billion, a price-to-earnings ratio of 16.68, a P/E/G 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 issued its quarterly earnings data on Wednesday, November 5th. The company reported C$2.13 earnings per share (EPS) for the quarter. The company 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%. Research analysts expect that CGI will post 8.3679245 earnings per share for the current 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.