RBC Capital Reiterates Their Sell Rating on Computer Modelling

By Austin Angelo

Computer Modelling (TSX: CMG), the Technology company, was revisited by a Wall Street analyst yesterday. Analyst Steve Arthur from RBC Capital rated Computer Modelling (TSX: CMG) a Sell, setting a C$8 price target.

According to TipRanks.com, Arthur is ranked #452 out of 4555 analysts.

Currently, the analyst consensus on Computer Modelling is Hold and the average price target is C$9.50, representing a -6.1% downside.

In a report released yesterday, Canaccord Genuity also reiterated a Sell rating on the stock with a C$8 price target.

Based on Computer Modelling’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$19.06 million and quarterly net profit of C$5.21 million. In comparison, last year the company earned revenue of C$19.02 million and had a net profit of C$3.88 million.

Computer Modelling Group Ltd. engages in the development and supply of reservoir simulation technologies. The firm develops and licenses reservoir simulation software, and provides professional services such as support, training, consulting, and contract research activities. It operates through the following geographical segments: Canada, United States, South America, and Eastern Hemisphere. The company was founded by Frank L. Meyer in 1978 and is headquartered in Calgary, Canada.

The company’s shares closed last Friday at $10.12.