CGI (TSE:GIB.A) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$106.44 and traded as low as C$86.20. CGI shares last traded at C$86.79, with a volume of 653,382 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on GIB.A shares. National Bank Financial set a C$135.00 price target on shares of CGI and gave the stock an “outperform” rating in a report on Friday, June 12th. BMO Capital Markets reduced their price objective on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Canaccord Genuity Group decreased their price objective on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Scotia lowered their target price on shares of CGI from C$120.00 to C$110.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. Finally, TD dropped their target price on shares of CGI from C$153.00 to C$102.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$126.31.

CGI Stock Performance

The company’s 50-day simple moving average is C$94.12 and its 200 day simple moving average is C$106.44. 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 stock has a market cap of C$18.18 billion, a P/E ratio of 11.33, a PEG ratio of 2.24 and a beta of 0.09.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share (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 fiscal year.

CGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 19th were paid a $0.17 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.68 annualized dividend and a yield of 0.8%. CGI’s dividend payout ratio (DPR) is currently 6.14%.

CGI Company Profile

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.