CGI (TSE:GIB.A) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$104.92 and traded as low as C$89.49. CGI shares last traded at C$91.67, with a volume of 678,164 shares traded.

Analysts Set New Price Targets

GIB.A has been the subject of several analyst reports. Scotiabank cut their price objective on shares of CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Raymond James Financial dropped their target price on CGI from C$168.00 to C$130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. National Bank Financial set a C$135.00 price target on CGI and gave the company an “outperform” rating in a research report on Friday, June 12th. Sanford C. Bernstein dropped their price objective on CGI from C$143.00 to C$141.00 in a report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce cut their target price on CGI from C$132.00 to C$112.00 in a research note on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$126.31.

CGI Price Performance

The stock has a market capitalization of C$19.20 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09. The business’s 50-day moving average price is C$92.75 and its 200 day moving average price is C$104.92. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$2.27 earnings per share (EPS) for the quarter. The company had revenue of C$4.16 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. Research analysts forecast that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 19th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.68 annualized dividend and a dividend yield of 0.7%. CGI’s dividend payout ratio (DPR) is presently 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.