Computer Modelling Group (TSE:CMG) Trading Down 14.5% Following Analyst Downgrade

Shares of Computer Modelling Group Ltd. (TSE:CMG) dropped 14.5% during trading on Wednesday after Raymond James Financial lowered their price target on the stock from C$10.00 to C$7.00. Raymond James Financial currently has an outperform rating on the stock. Computer Modelling Group traded as low as C$4.03 and last traded at C$4.08. Approximately 181,223 shares traded hands during trading, an increase of 1% from the average daily volume of 179,706 shares. The stock had previously closed at C$4.77.

Several other equities analysts have also recently issued reports on the company. Ventum Financial upgraded Computer Modelling Group from a “neutral” rating to a “buy” rating in a report on Thursday, November 13th. Ventum Cap Mkts upgraded shares of Computer Modelling Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. National Bankshares set a C$6.00 price target on shares of Computer Modelling Group and gave the stock a “sector perform” rating in a research note on Thursday, December 18th. BMO Capital Markets reduced their price objective on shares of Computer Modelling Group from C$7.00 to C$6.00 in a research note on Wednesday, November 12th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Computer Modelling Group from C$6.50 to C$5.50 in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.70.

Computer Modelling Group Stock Performance

The stock’s 50-day moving average price is C$5.07 and its 200 day moving average price is C$5.69. The firm has a market cap of C$325.96 million, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.97 and a beta of -0.64. The company has a debt-to-equity ratio of 47.62, a current ratio of 1.27 and a quick ratio of 2.25.

Computer Modelling Group (TSE:CMG) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$0.07 earnings per share (EPS) for the quarter. Computer Modelling Group had a net margin of 19.18% and a return on equity of 33.54%. The firm had revenue of C$32.69 million for the quarter. As a group, equities analysts predict that Computer Modelling Group Ltd. will post 0.3055122 EPS for the current year.

Computer Modelling Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 5th. Computer Modelling Group’s dividend payout ratio is presently 64.00%.

About Computer Modelling Group

Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. Its capabilities include integrated analysis and optimization, black oil and unconventional simulation, reservoir and production system modelling, post-processor visualization, compositional simulation, thermal processes simulation, and fluid property characterization. The firm has operations in over 60 countries in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.