CGI (TSE:GIB.A) Downgraded by CIBC to Neutral

CIBC downgraded shares of CGI (TSE:GIB.A) (NYSE:GIB) from an outperform rating to a neutral rating in a research note published on Monday morning,BayStreet.CA reports. The firm currently has C$139.00 target price on the stock, down from their previous target price of C$146.00.

A number of other brokerages have also recently commented on GIB.A. Sanford C. Bernstein upped their price target on CGI from C$137.00 to C$142.00 in a research report on Thursday, November 6th. Raymond James Financial cut their price target on shares of CGI from C$178.00 to C$168.00 in a report on Thursday, November 6th. TD Securities cut their price objective on CGI from C$190.00 to C$145.00 and set a “buy” rating for the company in a report on Friday, October 3rd. Finally, Desjardins reduced their target price on CGI from C$169.00 to C$160.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$165.90.

CGI Stock Up 0.4%

GIB.A opened at C$125.32 on Monday. CGI has a fifty-two week low of C$117.71 and a fifty-two week high of C$175.35. The company’s 50-day moving average is C$123.40 and its 200 day moving average is C$131.65. 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 firm has a market capitalization of C$27.46 billion, a P/E ratio of 17.05, a PEG ratio of 2.24 and a beta of 0.22.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 19th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, November 21st. This is a boost from CGI’s previous quarterly dividend of $0.15. CGI’s dividend payout ratio (DPR) is 8.16%.

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.