Free Trial

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

CGI logo with Computer and Technology background

Key Points

  • CGI Inc's stock price hit a new 52-week low of C$131.20, closing at C$131.56 with a trading volume of 81,309 shares.
  • Multiple brokerages have lowered their price targets for CGI, with Raymond James cutting it to C$178.00 and Royal Bank of Canada to C$175.00, while maintaining an "outperform" rating on the stock.
  • The company announced a quarterly dividend of $0.15, payable on September 19, representing an annual yield of 0.5%.
  • Want stock alerts on CGI? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB's share price reached a new 52-week low during trading on Thursday . The stock traded as low as C$131.20 and last traded at C$131.56, with a volume of 81309 shares. The stock had previously closed at C$132.75.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIB.A. Raymond James Financial lowered their price objective on shares of CGI from C$183.00 to C$178.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada dropped their target price on shares of 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. Scotiabank lowered their price objective 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 lowered their price objective on shares of CGI from C$173.00 to C$166.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Finally, CIBC cut their target price on CGI from C$183.00 to C$180.00 in a research note on Monday, July 21st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, CGI presently has a consensus rating of "Buy" and a consensus target price of C$179.40.

Read Our Latest Report on CGI

CGI Stock Down 1.6%

The firm has a fifty day moving average of C$141.88 and a 200-day moving average of C$148.63. 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 firm has a market cap of C$26.63 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

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 issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 annualized dividend and a yield of 0.5%.

About CGI

(Get Free Report)

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.

Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in CGI Right Now?

Before you consider CGI, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CGI wasn't on the list.

While CGI currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines