CGI (TSE:GIB.A) Hits New 12-Month Low – Here’s What Happened

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) reached a new 52-week low during trading on Tuesday . The company traded as low as C$97.51 and last traded at C$97.66, with a volume of 655629 shares traded. The stock had previously closed at C$101.85.

Analyst Ratings Changes

GIB.A has been the topic of several research analyst reports. Canaccord Genuity Group lowered their price objective on CGI from C$155.00 to C$150.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Desjardins set a C$157.00 price target on CGI and gave the stock a “buy” rating in a research note on Thursday, January 29th. TD Securities boosted their price target on CGI from C$145.00 to C$153.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Scotiabank set a C$140.00 price objective on CGI and gave the company a “sector perform” rating in a report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of CGI from C$139.00 to C$132.00 in a report on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$147.67.

CGI Trading Up 0.3%

The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The business’s fifty day moving average is C$118.38 and its 200 day moving average is C$123.48. The stock has a market cap of C$20.85 billion, a PE ratio of 13.01, a P/E/G ratio of 2.24 and a beta of 0.22.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings data on Wednesday, January 28th. The company reported C$2.12 earnings per share for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The business had revenue of C$4.08 billion during the quarter. As a group, analysts predict that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 20th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. CGI’s payout ratio is currently 6.03%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 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.