Shares of Computer Modelling Group Ltd. (TSE:CMG) have received a consensus rating of “Moderate Buy” from analysts covering the company. According to a report from MarketBeat Ratings, six ratings firms are currently evaluating the stock. Of these, three analysts recommend holding the stock, two suggest a buy rating, and one has issued a strong buy rating. The average target price over the next year, as estimated by brokerages that updated their assessments recently, stands at approximately C$8.90.
Analyst Ratings and Price Targets
In the latest updates, several analysts have adjusted their price targets for Computer Modelling Group. BMO Capital Markets lowered its price objective from C$7.00 to C$6.00 in a report released on November 12, 2023. Similarly, National Bankshares has set a price target of C$6.00 while assigning a “sector perform” rating. Following this trend, CIBC reduced their target for the stock from C$6.50 to C$5.50 in a report published on the following Monday.
Conversely, Ventum Financial upgraded its rating from “neutral” to “buy” on November 13, 2023, while Ventum Capital Markets enhanced its rating from “hold” to “strong buy” just a day earlier. These shifts in ratings reflect a varied outlook among analysts regarding the company’s future performance.
Dividend Announcement and Company Profile
In addition to the stock ratings, Computer Modelling Group announced a quarterly dividend, which was paid out on December 15, 2023. Shareholders on record received a dividend of $0.01, translating to an annualized dividend of $0.04 and a yield of 0.8%. The ex-dividend date was set for December 5, 2023, with the company’s payout ratio currently at 64.00%.
Based in Canada, Computer Modelling Group Ltd. specializes in reservoir simulation software tailored for the oil and gas industry. Its offerings include integrated analysis and optimization, black oil and unconventional simulation, and various modeling processes, positioning it as a key player in its sector.
Investors and analysts alike are keenly observing the developments surrounding Computer Modelling Group, especially as the company navigates its market landscape. The mixed ratings reflect both optimism and caution, highlighting the complexities involved in the energy sector.
