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CGI (TSE:GIB.A) Reaches New 52-Week Low - Here's What Happened

CGI logo with Computer and Technology background

Key Points

  • CGI's stock price has hit a new 52-week low, trading at C$121.50 after previously closing at C$126.54, with a trading volume of 834,652 shares.
  • Several analysts have revised their price targets for CGI, with Royal Bank of Canada lowering theirs from C$185.00 to C$175.00, while TD Securities significantly reduced theirs from C$190.00 to C$145.00, maintaining a "buy" rating.
  • The company recently declared a quarterly dividend of $0.15, yielding 0.5%, with an annualized payout of $0.60 and a payout ratio of 5.96%.
  • Interested in CGI? Here are five stocks we like better.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB's stock price reached a new 52-week low during trading on Wednesday . The company traded as low as C$121.45 and last traded at C$121.50, with a volume of 834652 shares traded. The stock had previously closed at C$126.54.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada decreased their price target on CGI from C$185.00 to C$175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. CIBC reduced their price objective on CGI from C$183.00 to C$180.00 in a research note on Monday, July 21st. TD Securities reduced their price objective on CGI from C$190.00 to C$145.00 and set a "buy" rating on the stock in a research note on Friday, October 3rd. Finally, Desjardins reduced their price objective on CGI from C$173.00 to C$166.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CGI has an average rating of "Buy" and an average target price of C$174.90.

Check Out Our Latest Analysis on CGI

CGI Stock Down 4.0%

The stock has a market cap of C$27.08 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30. The firm has a fifty day moving average of C$129.34 and a 200 day moving average of C$138.73. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI Dividend Announcement

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

About CGI

(Get Free Report)

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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