CGI (TSE:GIB.A) Hits New 52-Week Low - Time to Sell?

Key Points

• CGI Inc (TSE:GIB.A) reached a new 52-week low of C$128.42, down from a previous close of C$132.51, with a trading volume of 326,306 shares.
• Wall Street analysts have revised their price targets for CGI, with an average rating of "Buy" and an average price target of C$179.40.
• The company recently announced a quarterly dividend of $0.15, which equates to an annualized dividend of $0.60, yielding approximately 0.5%.

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$128.42 and last traded at C$128.44, with a volume of 326306 shares traded. The stock had previously closed at C$132.51.

Analyst Upgrades and Downgrades

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

CGI Stock Performance

The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The business has a 50-day simple moving average of C$134.24 and a 200-day simple moving average of C$141.82. 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 Dividend Announcement

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 given a dividend of $0.15 per share. The ex-dividend date is Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.5%. CGI's dividend payout ratio is 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.