CI&T (NYSE:CINT) Reaches New 12-Month Low Following Analyst Downgrade

Posted by on May 3rd, 2023

Shares of CI&T Inc (NYSE:CINT – Get Rating) hit a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $8.00 to $6.50. The stock traded as low as $3.70 and last traded at $3.77, with a volume of 3564 shares traded. The stock had previously closed at $3.75.

Separately, JPMorgan Chase & Co. decreased their price objective on shares of CI&T from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, March 9th.

Hedge Funds Weigh In On CI&T

Several institutional investors have recently added to or reduced their stakes in CINT. Millennium Management LLC acquired a new position in CI&T in the fourth quarter valued at approximately $585,000. Price T Rowe Associates Inc. MD lifted its holdings in CI&T by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,471,732 shares of the company’s stock valued at $9,566,000 after buying an additional 108,890 shares during the period. FDx Advisors Inc. acquired a new position in CI&T in the fourth quarter valued at approximately $96,000. Banco BTG Pactual S.A. bought a new stake in CI&T in the fourth quarter valued at approximately $283,000. Finally, Mondrian Investment Partners LTD increased its stake in CI&T by 11.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 631,626 shares of the company’s stock valued at $4,106,000 after purchasing an additional 65,059 shares in the last quarter. 9.36% of the stock is owned by institutional investors.

CI&T Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $495.11 million, a P/E ratio of 20.56, a P/E/G ratio of 0.51 and a beta of 0.83. The company’s 50 day simple moving average is $5.00 and its 200 day simple moving average is $6.46.

CI&T (NYSE:CINT – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). CI&T had a return on equity of 18.51% and a net margin of 5.74%. The company had revenue of $116.26 million for the quarter, compared to the consensus estimate of $115.62 million. As a group, equities analysts forecast that CI&T Inc will post 0.32 earnings per share for the current year.

About CI&T

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CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises worldwide. It develops customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, and cloud and mobility technologies.

Further Reading

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