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%.

Shares of CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB hit 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 traded. The stock had previously closed at C$129.30.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of 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. Desjardins reduced their price target on shares of 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. Finally, CIBC cut their price objective on shares of CGI from C$183.00 to C$180.00 in a research report on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, CGI currently has an average rating of "Buy" and a consensus price target of C$179.40.

CGI Trading Up 0.3%

The stock has a market cap of C$28.46 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 2.24 and a beta of 0.37. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The business has a 50-day simple moving average of C$132.98 and a two-hundred day simple moving average of C$141.18.

CGI Dividend Announcement

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

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.