CGI (TSE:GIB.A) Shares Cross Below 200 Day Moving Average - Here's What Happened

Key Points

• CGI shares fell below their 200-day moving average, trading as low as C$95.58 compared with the C$97.05 average, before closing at C$96.75.
• Analysts remain broadly positive: seven rate CGI a Buy and five a Hold, producing a “Moderate Buy” consensus and an average price target of C$124.23.
• CGI reported quarterly EPS of C$2.29 on C$4.19 billion in revenue and declared a quarterly dividend of C$0.17, equivalent to an annualized yield of about 0.7%.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$97.05 and traded as low as C$95.58. CGI shares last traded at C$96.75, with a volume of 843,296 shares traded.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD raised their target price on CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price target on shares of CGI from C$107.00 to C$108.00 in a research report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of CGI from C$110.00 to C$120.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Desjardins raised their price objective on shares of CGI from C$117.00 to C$118.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, National Bank Financial set a C$135.00 price objective on shares of CGI and gave the stock an "outperform" rating in a research note on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CGI presently has an average rating of "Moderate Buy" and an average target price of C$124.23.

CGI Price Performance

The company has a market cap of C$20.03 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 2.24 and a beta of 0.19. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The business has a 50-day moving average price of C$100.53 and a 200 day moving average price of C$97.05.

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

CGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were given a $0.17 dividend. The ex-dividend date was 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 (DPR) is 6.09%.

CGI Company Profile

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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