Royal Bank Of Canada Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective hoisted by equities researchers at Royal Bank Of Canada from C$100.00 to C$115.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target indicates a potential downside of 1.49% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of CGI from C$120.00 to C$130.00 and gave the company a “buy” rating in a report on Thursday. TD boosted their price target on shares of CGI from C$99.00 to C$118.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Desjardins dropped their price objective on shares of CGI from C$118.00 to C$115.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce raised their price objective on shares of CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Finally, National Bank Financial lifted their price objective on shares of CGI from C$135.00 to C$145.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven 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 currently has an average rating of “Moderate Buy” and a consensus price target of C$128.85.

CGI Stock Up 1.0%

TSE GIB.A traded up C$1.13 during trading hours on Thursday, hitting C$116.74. 334,444 shares of the company were exchanged, 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 firm has a market cap of C$24.17 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.24 and a beta of 0.29. The company has a 50 day moving average of C$104.56 and a two-hundred day moving average of C$100.25. CGI has a 52-week low of C$83.34 and a 52-week high of C$131.97.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings data on Wednesday, November 11th. The company reported C$2.31 earnings per share (EPS) for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. The business had revenue of C$4.15 billion during the quarter. Equities research analysts anticipate that CGI will post 8.37 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.