CGI Inc (TSE:GIB.A) Given Average Rating of "Buy" by Brokerages

Key Points

• CGI Inc has received a consensus recommendation of "Buy" from eight analysts, with an average price target of C$179.40 for the next year.
• The company has announced a quarterly dividend of $0.15 per share, reflecting an annualized dividend of $0.60 and a yield of 0.5%.
• As of now, CGI Inc's stock has a current market price of C$129.30, with a 52-week trading range between C$127.73 and C$175.35.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB has been given an average recommendation of "Buy" by the eight analysts that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$179.40.

A number of brokerages have recently commented on GIB.A. CIBC lowered their price objective on CGI from C$183.00 to C$180.00 in a research report on Monday, July 21st. Royal Bank Of Canada cut their price objective on CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Desjardins dropped their price target on CGI from C$173.00 to C$166.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th.

CGI Trading Up 0.0%

GIB.A traded up C$0.06 on Friday, hitting C$127.33. The company had a trading volume of 406,688 shares, compared to its average volume of 432,562. The firm has a market cap of C$28.38 billion, a P/E ratio of 16.86, a PEG ratio of 2.24 and a beta of 0.37. CGI has a 1 year low of C$126.95 and a 1 year high of C$175.35. The company's fifty day moving average price is C$133.18 and its 200 day moving average price is C$141.33. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, August 15th. This represents a $0.60 annualized dividend and a yield of 0.5%. CGI's payout ratio is currently 5.96%.

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.