CGI (TSE:GIB.A) Reaches New 52-Week Low After Analyst Downgrade

Key Points

• CGI Inc (TSE:GIB.A) shares hit a new 52-week low after the Royal Bank of Canada downgraded their price target from C$185.00 to C$175.00.
• Analysts from multiple firms have reduced their price targets on CGI, with the average target now at C$173.00 and a majority rating of "Buy."
• CGI recently declared a quarterly dividend of $0.15 per share, yielding 0.4% annually.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB hit a new 52-week low on Thursday after Royal Bank Of Canada lowered their price target on the stock from C$185.00 to C$175.00. Royal Bank Of Canada currently has an outperform rating on the stock. CGI traded as low as C$133.00 and last traded at C$134.21, with a volume of 201730 shares traded. The stock had previously closed at C$134.05.

A number of other analysts have also recently commented on the stock. Raymond James Financial cut their price target on shares of CGI from C$183.00 to C$178.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Scotiabank dropped 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 Tuesday, April 29th. Desjardins cut their price target on CGI from C$173.00 to C$166.00 and set a "buy" rating on the stock in a report on Tuesday. CIBC lowered their price objective on shares of CGI from C$183.00 to C$180.00 in a research note on Monday, July 21st. Finally, Canaccord Genuity Group reduced their price target on shares of CGI from C$190.00 to C$180.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$179.40.

CGI Trading Down 1.5%

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 stock has a market capitalization of C$26.82 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a 50-day moving average price of C$142.82 and a two-hundred day moving average price of C$149.12.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 20th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, May 16th.

CGI Company Profile

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.