Computer Modelling Group (TSE:CMG) Stock Price Down 13.2% Following Analyst Downgrade

Computer Modelling Group Ltd. (TSE:CMG) was down 13.2% on Wednesday after Cibc World Mkts downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.75 and last traded at C$9.20. Approximately 228,500 shares traded hands during trading, an increase of 63% from the average daily volume of 139,875 shares. The stock had previously closed at C$10.60.

Several other equities analysts have also commented on CMG. Canaccord Genuity Group lowered shares of Computer Modelling Group from a “buy” rating to a “hold” rating and reduced their target price for the company from C$15.00 to C$12.00 in a report on Wednesday, November 13th. Ventum Financial reduced their price objective on Computer Modelling Group from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research note on Wednesday. CIBC lowered their target price on Computer Modelling Group from C$14.50 to C$11.00 and set a “neutral” rating for the company in a research note on Wednesday. BMO Capital Markets reduced their price target on Computer Modelling Group from C$14.00 to C$13.00 in a research report on Friday, December 13th. Finally, Raymond James lowered their price objective on Computer Modelling Group from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Computer Modelling Group currently has a consensus rating of “Hold” and an average target price of C$12.67.

Insider Buying and Selling at Computer Modelling Group

In other Computer Modelling Group news, Director Kenneth Michael Dedeluk sold 10,000 shares of the business’s stock in a transaction on Monday, January 20th. The shares were sold at an average price of C$10.50, for a total transaction of C$105,000.00. Also, Senior Officer Long X. Nghiem sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of C$11.35, for a total transaction of C$283,850.00. Insiders sold 325,210 shares of company stock valued at $3,533,366 in the last 90 days. Insiders own 1.03% of the company’s stock.

Computer Modelling Group Stock Performance

The company has a 50-day simple moving average of C$10.52 and a two-hundred day simple moving average of C$11.53. The company has a debt-to-equity ratio of 47.62, a quick ratio of 2.25 and a current ratio of 1.27. The firm has a market capitalization of C$714.06 million, a P/E ratio of 29.18, a PEG ratio of 1.97 and a beta of 1.21.

Computer Modelling Group (TSE:CMG) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.07 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.01. Computer Modelling Group had a return on equity of 33.54% and a net margin of 19.18%. As a group, equities analysts forecast that Computer Modelling Group Ltd. will post 0.3055122 EPS for the current year.

Computer Modelling Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, December 5th. Computer Modelling Group’s dividend payout ratio is currently 65.95%.

About Computer Modelling Group

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.