CGI (TSE:GIB.A) Price Target Lowered to C$117.00 at Desjardins

CGI (TSE:GIB.A) (NYSE:GIB) had its target price reduced by Desjardins from C$147.00 to C$117.00 in a research note released on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on GIB.A. Scotiabank reduced their target price on CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. National Bank Financial set a C$135.00 price target on shares of CGI and gave the company an “outperform” rating in a research note on Friday, June 12th. Scotia cut their price target on shares of CGI from C$120.00 to C$110.00 and set a “sector perform” rating for the company in a report on Thursday, April 30th. Canaccord Genuity Group reduced their price objective on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Raymond James Financial reduced their price objective on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, CGI has a consensus rating of “Moderate Buy” and an average target price of C$123.85.

CGI Stock Performance

TSE GIB.A opened at C$94.09 on Tuesday. The stock has a market capitalization of C$19.70 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.24 and a beta of 0.13. CGI has a twelve month low of C$83.34 and a twelve month high of C$142.48. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The stock has a 50-day moving average of C$92.28 and a 200 day moving average of C$101.46.

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

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 19th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was 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 is presently 6.14%.

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. 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.