TD Securities Cuts CGI (TSE:GIB.A) Price Target to C$145.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price target lowered by TD Securities from C$190.00 to C$145.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on GIB.A. CIBC cut their price target on shares of CGI from C$183.00 to C$180.00 in a report on Monday, July 21st. Desjardins dropped their target price on shares of CGI from C$173.00 to C$166.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada cut their target price on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$174.90.

CGI Stock Up 1.6%

CGI stock opened at C$127.96 on Friday. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market capitalization of C$28.52 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30. The business has a 50 day simple moving average of C$130.49 and a 200-day simple moving average of C$139.51. CGI has a 12 month low of C$121.69 and a 12 month high of C$175.35.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 19th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 15th. CGI’s dividend payout ratio is 5.96%.

CGI Company Profile

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.