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The latest update is out from Computer Modelling ( (TSE:CMG) ).
Computer Modelling Group Ltd. announced its second-quarter financial results, revealing a 2% increase in total revenue to $30.2 million, driven by a 19% growth from acquisitions despite a 17% organic decline. The company reported a 25% decrease in adjusted EBITDA and a 40% drop in earnings per share, highlighting challenges such as lower perpetual software license sales and reduced revenues from reservoir and production solutions. Despite these challenges, CMG Group strengthened its market position by acquiring SeisWare International Inc. and securing a multi-year licensing agreement with Shell. The company also announced a Normal Course Issuer Bid and closed a $100M credit facility to support strategic acquisitions and enhance its ability to navigate market volatility.
The most recent analyst rating on (TSE:CMG) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Computer Modelling stock, see the TSE:CMG Stock Forecast page.
Spark’s Take on TSE:CMG Stock
According to Spark, TipRanks’ AI Analyst, TSE:CMG is a Neutral.
The overall stock score of 60 reflects strong financial performance but is weighed down by bearish technical indicators and a valuation that doesn’t fully compensate for recent negative revenue growth. The lack of earnings call data and corporate events means these factors did not influence the score.
To see Spark’s full report on TSE:CMG stock, click here.
More about Computer Modelling
Computer Modelling Group Ltd. operates in the software industry, focusing on developing simulation software solutions for the energy sector. The company provides geoscience interpretation and field development software, with a market focus on subsurface exploration and development projects.
Average Trading Volume: 251,857
Technical Sentiment Signal: Sell
Current Market Cap: C$426M
Learn more about CMG stock on TipRanks’ Stock Analysis page.