CGI (TSE:GIB.A) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• CGI shares crossed above their 200-day moving average, trading as high as C$100.29 versus a C$97.30 average, before last trading at C$99.27.
• Analysts maintain a generally positive outlook: seven rate CGI a Buy and five a Hold, producing a “Moderate Buy” consensus and average price target of C$124.23.
• CGI reported quarterly EPS of C$2.29 on C$4.19 billion in revenue and announced a quarterly dividend of $0.17 per share, representing a 0.7% annualized yield.

Shares of CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$97.30 and traded as high as C$100.29. CGI shares last traded at C$99.27, with a volume of 246,442 shares traded.

Analysts Set New Price Targets

GIB.A has been the subject of several recent analyst reports. Desjardins lifted their price target 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. Canadian Imperial Bank of Commerce increased their price target on CGI from C$107.00 to C$108.00 in a research report on Thursday, July 30th. TD raised their price objective on CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a report 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 report on Friday, June 12th. Finally, Stifel Nicolaus upped their target price on CGI from C$110.00 to C$120.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$124.23.

CGI Stock Down 1.2%

The firm has a market cap of C$20.56 billion, a PE ratio of 12.33, a PEG ratio of 2.24 and a beta of 0.19. The business's 50 day moving average price is C$100.00 and its 200 day moving average price is C$97.30. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

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

CGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend 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 presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.