CGI (TSE:GIB.A) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• CGI shares crossed above their 200-day moving average, reaching C$104.18 before closing at C$103.23, compared with the moving average of C$97.43.
• Analysts maintain a generally positive outlook, with seven Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of C$124.23.
• CGI reported quarterly revenue of C$4.19 billion and EPS of C$2.29, while declaring a quarterly dividend of $0.17 per share, equivalent to a 0.7% yield.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB's stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$97.43 and traded as high as C$104.18. CGI shares last traded at C$103.23, with a volume of 410,907 shares changing hands.

Wall Street Analyst Weigh In

GIB.A has been the subject of several analyst reports. TD raised their price target on shares of CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. 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. Canadian Imperial Bank of Commerce lifted their target price on CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Canaccord Genuity Group decreased their price target on CGI from C$150.00 to C$140.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$124.23.

CGI Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The firm's fifty day moving average price is C$97.48 and its two-hundred day moving average price is C$97.43. The stock has a market capitalization of C$21.38 billion, a PE ratio of 12.82, a PEG ratio of 2.24 and a beta of 0.14.

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. CGI had a net margin of 11.51% and a return on equity of 19.51%. The company had revenue of C$4.19 billion for the quarter. On average, equities analysts predict that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Announces Dividend

The company also recently declared 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. This represents a $0.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. CGI's dividend payout ratio is presently 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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