CGI (TSE:GIB.A) Price Target Raised to C$108.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price target upped by Canadian Imperial Bank of Commerce from C$107.00 to C$108.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group reduced their target price on CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock 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. National Bank Financial set a C$135.00 price target on CGI and gave the company 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 reduced their price objective for the stock from C$150.00 to C$100.00 in a research note on Thursday, April 30th. Finally, BMO Capital Markets decreased their price objective on CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$124.23.

CGI Stock Performance

Shares of TSE GIB.A opened at C$102.61 on Thursday. The company has a market cap of C$21.25 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.24 and a beta of 0.13. CGI has a 52-week low of C$83.34 and a 52-week high of C$135.39. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The firm’s fifty day moving average is C$93.83 and its two-hundred day moving average is C$99.99.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 EPS 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$4.19 billion during the quarter. As a group, analysts anticipate that CGI will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. CGI’s payout ratio is 6.14%.

More CGI News

Here are the key news stories impacting CGI this week:

• Positive Sentiment: Strong third-quarter earnings: CGI reported a quarterly profit of approximately C$465.2 million, up from C$408.6 million a year earlier. The company also reported C$2.29 in earnings per share and C$4.19 billion in revenue, highlighting continued earnings growth. CGI reports $465-million profit, up from a year ago
• Positive Sentiment: Analysts raised their targets: Stifel Nicolaus increased its target from C$110 to C$120 and assigned a “buy” rating. TD raised its target from C$99 to C$118 while maintaining a “hold” rating, and Desjardins lifted its target from C$117 to C$118 with a “buy” rating. CIBC also raised its target from C$107 to C$108. These revisions imply roughly 5% to 17% potential upside based on the cited reference price. BayStreet.CA analyst ratings
• Positive Sentiment: AI-related growth initiatives: Management highlighted strategic investments in artificial intelligence and described AI-driven momentum as an important contributor to CGI’s growth outlook. CGI Inc. earnings call highlights AI-driven momentum
• Positive Sentiment: Quarterly dividend announced: CGI declared a C$0.17-per-share dividend, implying approximately C$0.68 annually and a yield of about 0.7%. Shareholders of record on September 18 are scheduled to receive the dividend on September 18, with August 14 listed as the ex-dividend date.

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.