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

Key Points

• CGI shares fell below their 200-day moving average during Wednesday trading, with the stock dropping to as low as C$93.23 and last trading near C$93.93.
• Several analysts cut price targets on CGI, including RBC lowering its rating to sector perform and reducing its target to C$100, while the consensus view remains Moderate Buy with a C$126.31 average target.
• The company recently reported C$2.27 EPS on C$4.16 billion in revenue for its latest quarter and also paid a quarterly dividend of C$0.17 per share, or C$0.68 annualized.

Shares of CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$103.58 and traded as low as C$93.23. CGI shares last traded at C$93.93, with a volume of 495,336 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada lowered CGI from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$150.00 to C$100.00 in a report on Thursday, April 30th. BMO Capital Markets cut their price target on CGI from C$137.00 to C$122.00 and set an "outperform" rating for the company in a research note on Monday, April 27th. Scotia reduced their price target on shares of CGI from C$120.00 to C$110.00 and set a "sector perform" rating for the company in a research report on Thursday, April 30th. Desjardins set a C$149.00 price objective on shares of CGI and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group dropped their price objective on shares of CGI from C$150.00 to C$140.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$126.31.

CGI Trading Down 1.9%

The stock has a fifty day moving average of C$91.73 and a 200 day moving average of C$103.58. 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 company has a market capitalization of C$19.67 billion, a PE ratio of 12.26, a PEG ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share (EPS) for the quarter. The business had revenue of C$4.16 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, sell-side analysts predict that CGI Inc will post 8.3679245 earnings per share for the current fiscal year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 19th were given a dividend of $0.17 per share. The ex-dividend date was Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. CGI's dividend payout ratio is currently 6.14%.

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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