CGI (TSE:GIB.A) Stock Gets Price Target Reduction from Desjardins

CGI (TSE:GIB.A) (NYSE:GIB) had its price target lowered by Desjardins from C$118.00 to C$115.00 in a research report sent to investors on Thursday morning,BayStreet reports. The firm currently has a buy rating on the stock.

Several other analysts have also weighed in on GIB.A. TD boosted their price objective on CGI from C$99.00 to C$118.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce upped their price target on CGI from C$107.00 to C$108.00 in a research report on Thursday, July 30th. Stifel Nicolaus boosted their target price on shares of CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, National Bank Financial set a C$135.00 target price on shares of CGI and gave the stock an “outperform” rating in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$124.00.

CGI Stock Up 1.1%

Shares of TSE:GIB.A opened at C$100.08 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The company has a fifty day simple moving average of C$100.65 and a 200 day simple moving average of C$97.12. The firm has a market cap of C$20.72 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.24 and a beta of 0.20. CGI has a 12-month low of C$83.34 and a 12-month high of C$131.97.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 EPS for the quarter. The firm had revenue of C$4.19 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. On average, equities research analysts anticipate that CGI will post 8.37 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 14th. CGI’s dividend payout ratio is presently 6.09%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.