CGI Group, Inc. (GIB) To Go Ex-Dividend on August 14th

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, August 14th will be given a dividend of 0.17 per share by the technology company on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th.

CGI Group has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CGI Group to earn $6.95 per share next year, which means the company should continue to be able to cover its $0.47 annual dividend with an expected future payout ratio of 6.8%.

CGI Group Stock Down 0.5%

GIB opened at $74.87 on Wednesday. CGI Group has a twelve month low of $59.63 and a twelve month high of $97.55. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $67.58 and a 200 day moving average price of $71.32. The company has a market cap of $15.83 billion, a PE ratio of 12.84 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research note on Wednesday, June 24th. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. UBS Group lowered their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada cut CGI Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $83.67.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.