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

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$103.58 and traded as low as C$93.23. CGI shares last traded at C$93.93, with a volume of 495,336 shares.

Analyst Ratings Changes

Several analysts have commented on GIB.A shares. National Bank Financial set a C$135.00 price target on shares of CGI and gave the company an “outperform” rating in a research report on Friday, June 12th. Scotiabank reduced 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 research note on Friday, April 24th. Canaccord Genuity Group decreased their target price 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. Stifel Nicolaus decreased their target price on shares of CGI from C$160.00 to C$128.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada downgraded shares of CGI from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$150.00 to C$100.00 in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$126.31.

CGI Stock Performance

The business has a 50 day simple moving average of C$91.71 and a 200 day simple moving average of C$103.29. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The company has a market capitalization of C$19.86 billion, a PE ratio of 12.38, a PEG ratio of 2.24 and a beta of 0.13.

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

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors 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 dividend on an annualized basis and a yield of 0.7%. CGI’s dividend payout ratio (DPR) is 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.