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

Key Points

• CGI shares hit a new 52‑week low of C$105.38 (last C$105.45) on Wednesday, trading well below its 50‑day (C$123.95) and 200‑day (C$125.98) moving averages.
• Analysts maintain a consensus "Moderate Buy" with an average price target of C$147.67, though several firms recently cut targets while TD Securities raised its target to C$153 and kept a buy rating.
• In the latest quarter CGI reported EPS of C$2.12 on C$4.08 billion revenue, has a P/E of 13.79 and C$22.09 billion market cap, and recently raised its quarterly dividend to $0.17 (annualized $0.68, yield 0.7%) with a 6.03% payout ratio.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB shares hit a new 52-week low during trading on Wednesday . The stock traded as low as C$105.38 and last traded at C$105.45, with a volume of 110476 shares traded. The stock had previously closed at C$109.87.

Wall Street Analysts Forecast Growth

GIB.A has been the subject of a number of recent analyst reports. Raymond James Financial decreased their price target on shares of CGI from C$178.00 to C$168.00 in a report on Thursday, November 6th. TD Securities boosted their price objective on CGI from C$145.00 to C$153.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. BMO Capital Markets lowered their target price on CGI from C$145.00 to C$137.00 in a report on Thursday, January 29th. Scotiabank set a C$140.00 price target on CGI and gave the stock a "sector perform" rating in a research report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce cut their price target on CGI from C$139.00 to C$132.00 in a report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$147.67.

CGI Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The company's fifty day moving average price is C$123.95 and its 200 day moving average price is C$125.98. The company has a market capitalization of C$22.09 billion, a P/E ratio of 13.79, a PEG ratio of 2.24 and a beta of 0.22.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last issued its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share (EPS) for the quarter. The business had revenue of C$4.08 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. As a group, sell-side analysts forecast that CGI Inc will post 8.3679245 EPS for the current year.

CGI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 19th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. This is a boost from CGI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 21st. CGI's payout ratio is presently 6.03%.

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. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.

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