CGI (TSE:GIB.A) Sets New 12-Month Low – Here’s What Happened

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price hit a new 52-week low on Wednesday . The company traded as low as C$105.38 and last traded at C$105.45, with a volume of 110476 shares traded. The stock had previously closed at C$109.87.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of CGI from C$145.00 to C$137.00 in a research note on Thursday, January 29th. Scotiabank set a C$140.00 target price on CGI and gave the company a “sector perform” rating in a report on Tuesday, January 27th. Desjardins set a C$157.00 price target on CGI and gave the stock a “buy” rating in a report on Thursday, January 29th. Canaccord Genuity Group dropped their price objective on CGI from C$155.00 to C$150.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Finally, Sanford C. Bernstein lifted their target price on CGI from C$137.00 to C$142.00 in a research report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$147.67.

CGI Price Performance

The business’s 50-day simple moving average is C$123.95 and its two-hundred day simple moving average is C$125.98. The stock has a market cap of C$22.09 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.24 and a beta of 0.22. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share (EPS) for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The company had revenue of C$4.08 billion during the quarter. Research analysts expect that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 19th were given a $0.17 dividend. This is a boost from CGI’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, November 21st. CGI’s dividend payout ratio is 6.03%.

About CGI

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. 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.