CGI (TSE:GIB.A) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• CGI shares crossed above their 200-day moving average, reaching C$104.82 before closing at C$103.51, up 2.0% during trading.
• Analyst sentiment remains positive but mixed: seven analysts rate the stock a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average price target of C$124.23.
• CGI reported quarterly earnings of C$2.29 per share on C$4.19 billion in revenue and declared a quarterly dividend of C$0.17, equivalent to a 0.7% annualized yield.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB's stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$97.89 and traded as high as C$104.82. CGI shares last traded at C$103.51, with a volume of 979,957 shares.

Analyst Upgrades and Downgrades

GIB.A has been the topic of several analyst reports. Scotia cut their price objective on shares of CGI from C$120.00 to C$110.00 and set a "sector perform" rating on the stock in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce lifted their target price on shares of CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. National Bank Financial set a C$135.00 target price on shares of CGI and gave the company an "outperform" rating in a research report on Friday, June 12th. Royal Bank Of Canada downgraded CGI from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$150.00 to C$100.00 in a research note on Thursday, April 30th. Finally, Desjardins raised their price target on CGI from C$117.00 to C$118.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$124.23.

CGI Trading Up 2.0%

The company has a market capitalization of C$21.43 billion, a P/E ratio of 12.86, a PEG ratio of 2.24 and a beta of 0.14. The business has a 50 day moving average price of C$96.20 and a 200 day moving average price of C$97.89. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last posted its earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share for the quarter. The company had revenue of C$4.19 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Analysts anticipate that CGI Inc will post 8.3679245 EPS for the current year.

CGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be given a $0.17 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. CGI's dividend payout ratio is currently 6.09%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 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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