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

Key Points

• CGI Inc reached a new 52-week low of C$129.36 during trading, with its last trade noted at C$129.50.
• Major analysts have revised their price targets downward, with CIBC and Royal Bank of Canada both lowering their targets significantly.
• The company has announced a quarterly dividend of $0.15 per share, with payment scheduled for September 19th, representing an annualized yield of 0.5%.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB hit a new 52-week low during trading on Wednesday . The company traded as low as C$129.36 and last traded at C$129.50, with a volume of 443021 shares traded. The stock had previously closed at C$131.15.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. CIBC decreased their price objective on CGI from C$183.00 to C$180.00 in a report on Monday, July 21st. Desjardins decreased their price objective on CGI from C$173.00 to C$166.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Canaccord Genuity Group decreased their price objective on CGI from C$190.00 to C$180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Raymond James Financial decreased their price objective on CGI from C$183.00 to C$178.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Scotiabank decreased their price objective on CGI from C$185.00 to C$175.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$179.40.

CGI Price Performance

The company has a 50-day moving average of C$139.55 and a two-hundred day moving average of C$147.19. The stock has a market capitalization of C$26.45 billion, a PE ratio of 18.15, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 19th will be paid 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%.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.