CGI Inc (TSE:GIB.A) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• CGI has a “Moderate Buy” consensus rating from 12 brokerages, with seven buy ratings and five holds. The average 12-month price target is C$124.23.
• CGI shares opened at C$103.85, above their 50-day and 200-day moving averages of C$97.77 and C$97.47, respectively. Recent analyst targets range from C$108 to C$135.
• The company reported quarterly EPS of C$2.29 on C$4.19 billion in revenue, with an 11.51% net margin and 19.51% return on equity. CGI also declared a quarterly dividend of C$0.17, representing a 0.7% annualized yield.

Shares of CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB have been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$124.23.

Several analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce raised their target price on CGI from C$107.00 to C$108.00 in a research note on Thursday, July 30th. National Bank Financial set a C$135.00 price objective on CGI and gave the company an "outperform" rating in a research note on Friday, June 12th. Stifel Nicolaus lifted their price objective on CGI from C$110.00 to C$120.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. TD upped their target price on CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Finally, Desjardins increased their target price on CGI from C$117.00 to C$118.00 and gave the company a "buy" rating in a research note on Thursday, July 30th.

CGI Price Performance

GIB.A opened at C$103.85 on Friday. The company has a fifty day simple moving average of C$97.77 and a 200 day simple moving average of C$97.47. The firm has a market cap of C$21.50 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 2.24 and a beta of 0.14. CGI has a twelve month low of C$83.34 and a twelve month high of C$134.74. 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 released its quarterly earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts expect that CGI will post 8.3679245 EPS for the current fiscal year.

CGI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.68 annualized dividend and a 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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