CGI (TSE:GIB.A) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$109.29 and traded as low as C$91.91. CGI shares last traded at C$92.06, with a volume of 674,872 shares.

Analyst Ratings Changes

Several research analysts have issued reports on GIB.A shares. Scotia dropped their target price on shares of CGI from C$120.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Thursday, April 30th. BMO Capital Markets dropped their target price on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Canaccord Genuity Group dropped their target price on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce dropped their target price on shares of CGI from C$132.00 to C$112.00 in a report on Friday, April 17th. Finally, Scotiabank dropped their target price on shares of CGI from C$140.00 to C$120.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$126.31.

CGI Trading Down 4.0%

The firm has a market capitalization of C$19.28 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.08. The company’s 50-day simple moving average is C$96.35 and its 200 day simple moving average is C$109.29. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings results on Wednesday, April 29th. The company reported C$2.27 EPS for the quarter. The business had revenue of C$4.16 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, sell-side analysts expect that CGI Inc will post 8.3679245 EPS for the current year.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 19th will be given 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, May 15th. CGI’s dividend payout ratio is presently 6.14%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 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.