CGI (TSE:GIB.A) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$154.94 and traded as high as C$171.48. CGI shares last traded at C$170.21, with a volume of 255,193 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GIB.A shares. Royal Bank of Canada upped their price objective on CGI from C$178.00 to C$192.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank upped their price target on shares of CGI from C$170.00 to C$185.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Canaccord Genuity Group lifted their price objective on shares of CGI from C$170.00 to C$175.00 in a research note on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of CGI from C$177.00 to C$190.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, CIBC raised their target price on shares of CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, CGI currently has a consensus rating of “Buy” and an average price target of C$178.31.

CGI Stock Performance

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 market cap of C$34.69 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company has a 50 day moving average price of C$159.82 and a 200-day moving average price of C$154.94.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, February 14th.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.