CGI (TSE:GIB.A) Hits New 12-Month Low - Here's What Happened

Key Points

• CGI Inc's stock reached a new 52-week low, trading as low as C$127.53 before settling at C$128.26 during recent trading.
• Equities research analysts have downgraded CGI's price targets, with CIBC, Desjardins, and Royal Bank of Canada reducing their price targets to C$180.00, C$166.00, and C$175.00 respectively, while maintaining a consensus rating of "Buy".
• CGI recently announced a quarterly dividend of $0.15 per share, reflecting a 0.5% yield with a low payout ratio of 5.96%.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB's stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as C$127.53 and last traded at C$128.26, with a volume of 356452 shares changing hands. The stock had previously closed at C$129.30.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GIB.A shares. CIBC cut their price target on CGI from C$183.00 to C$180.00 in a report on Monday, July 21st. Desjardins lowered their price objective on shares of CGI from C$173.00 to C$166.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada lowered their target price on CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CGI currently has a consensus rating of "Buy" and a consensus target price of C$179.40.

CGI Price Performance

The company has a fifty day moving average price of C$133.95 and a two-hundred day moving average price of C$141.67. 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 firm has a market capitalization of C$28.59 billion, a PE ratio of 16.99, a P/E/G ratio of 2.24 and a beta of 0.37.

CGI Announces Dividend

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

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