Computer Modelling (CMG) Receives a Sell from Scotiabank

By Austin Angelo

In a new note to investors yesterday, an analyst has provided a rating update for the Technology company, Computer Modelling (CMGResearch Report). The company received a Sell rating from Scotiabank’s analyst Paul Steep, with a C$7 price target.

Steep has an average return of 0.8% when recommending Computer Modelling.

According to TipRanks.com, Steep is ranked #450 out of 5163 analysts.

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The word on The Street in general, suggests a Hold analyst consensus rating for Computer Modelling with a C$8.50 average price target.

Based on Computer Modelling’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$6.85 million. In comparison, last year the company had a net profit of C$5.1 million.

Computer Modelling Group Ltd. engages in the development and licensing of reservoir simulation software. It assists oil and gas companies with extracting significantly increased volumes of oil and gas from their reservoirs. It operates through the following geographical segments: Canada, United States, South America, and Eastern Hemisphere.

The company’s shares closed on Wednesday at C$6.88.