CGI (TSE:GIB.A) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective upped by research analysts at Canadian Imperial Bank of Commerce from C$107.00 to C$108.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 5.07% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Sanford C. Bernstein dropped their price target on CGI from C$143.00 to C$141.00 in a research note on Thursday, April 30th. TD lowered shares of CGI from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$102.00 to C$99.00 in a research report on Thursday, July 23rd. BMO Capital Markets dropped their target price on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Scotiabank cut their price target on shares of CGI from C$140.00 to C$120.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Finally, Raymond James Financial decreased their price target on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, CGI currently has a consensus rating of “Moderate Buy” and a consensus target price of C$124.23.

CGI Stock Down 2.1%

Shares of CGI stock traded down C$2.22 during trading on Thursday, reaching C$102.79. The company’s stock had a trading volume of 318,090 shares, compared to its average volume of 676,467. CGI has a 1-year low of C$83.34 and a 1-year high of C$135.39. The company has a 50-day simple moving average of C$93.40 and a two-hundred day simple moving average of C$100.17. 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 company has a market cap of C$21.53 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%.The company had revenue of C$4.19 billion for the quarter. As a group, equities analysts forecast that CGI will post 8.3679245 earnings per share for the current 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.