CGI (TSE:GIB.A) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• CGI shares moved above their 200-day moving average, reaching C$100.59 before last trading at C$97.42, compared with the 200-day average of C$97.34.
• Analysts remain generally positive, with seven Buy ratings and five Holds contributing to 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 $0.17 per share, representing a 0.7% annualized yield.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$97.34 and traded as high as C$100.59. CGI shares last traded at C$97.42, with a volume of 544,701 shares traded.

Analyst Ratings Changes

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

CGI Trading Down 4.5%

The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The company has a market capitalization of C$20.17 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 2.24 and a beta of 0.19. The business has a fifty day moving average price of C$99.48 and a 200 day moving average price of C$97.34.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced its quarterly earnings data 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 net margin of 11.51% and a return on equity of 19.51%. On average, equities analysts expect that CGI Inc will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.7%. CGI's 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.

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