CGI Inc. (GIB) to Issue Quarterly Dividend of $0.10 on March 21st

CGI Inc. (NYSE:GIB) (TSE:GIB.A) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.1039 per share by the technology company on Friday, March 21st. This represents a $0.42 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, February 14th.

CGI has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CGI to earn $6.28 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 6.7%.

CGI Stock Up 0.1 %

Shares of CGI stock opened at $120.85 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.04. CGI has a 1-year low of $96.92 and a 1-year high of $121.55. The business has a 50-day moving average of $111.90 and a 200-day moving average of $111.98. The company has a market capitalization of $27.40 billion, a PE ratio of 21.85, a P/E/G ratio of 2.62 and a beta of 0.94.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, equities analysts forecast that CGI will post 5.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group dropped their price target on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $178.00 price objective on shares of CGI in a report on Monday, January 6th. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CGI presently has an average rating of “Buy” and an average target price of $153.25.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.