CGI (TSE:GIB.A) Cut to Hold at TD

TD downgraded shares of CGI (TSE:GIB.A) (NYSE:GIB) from a buy rating to a hold rating in a report released on Thursday,BayStreet.CA reports. They currently have C$99.00 price target on the stock, down from their prior price target of C$102.00.

Several other equities research analysts have also recently weighed in on GIB.A. National Bank Financial set a C$135.00 price objective on CGI and gave the stock an “outperform” rating in a report on Friday, June 12th. Royal Bank Of Canada downgraded CGI from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$150.00 to C$100.00 in a report on Thursday, April 30th. Stifel Nicolaus dropped their price target on CGI from C$160.00 to C$128.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Sanford C. Bernstein cut their price target on shares of CGI from C$143.00 to C$141.00 in a report on Thursday, April 30th. Finally, Desjardins reduced their price objective on shares of CGI from C$147.00 to C$117.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CGI has a consensus rating of “Moderate Buy” and a consensus target price of C$123.62.

CGI Stock Up 4.2%

CGI stock opened at C$93.59 on Thursday. CGI has a 12-month low of C$83.34 and a 12-month high of C$142.48. The firm’s fifty day moving average is C$92.64 and its 200 day moving average is C$100.92. The company has a market capitalization of C$19.60 billion, a PE ratio of 12.22, a PEG ratio of 2.24 and a beta of 0.13. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The firm had revenue of C$4.16 billion during the quarter. As a group, sell-side analysts predict that CGI will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 19th 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, May 15th. CGI’s dividend payout ratio (DPR) is currently 6.14%.

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.