CGI (TSE:GIB.A) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

CGI Inc (TSE:GIB.A) (NYSE:GIB) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$109.29 and traded as low as C$91.91. CGI shares last traded at C$92.06, with a volume of 674,872 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GIB.A shares. Canadian Imperial Bank of Commerce cut their target price on CGI from C$132.00 to C$112.00 in a research report on Friday, April 17th. Stifel Nicolaus dropped their target price on CGI from C$160.00 to C$128.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Raymond James Financial dropped their target price on CGI from C$168.00 to C$130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. National Bank Financial dropped their target price on CGI from C$150.00 to C$135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, Sanford C. Bernstein dropped their target price on CGI from C$143.00 to C$141.00 in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$126.31.

CGI Price Performance

The stock has a market cap of C$19.65 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09. The stock’s 50 day moving average price is C$96.12 and its two-hundred day moving average price is C$108.98. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share for the quarter. The firm had revenue of C$4.16 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Equities research analysts forecast that CGI Inc will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 19th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. CGI’s dividend payout ratio (DPR) is presently 6.14%.

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.