CGI (TSE:GIB.A) Hits New 52-Week Low – Here’s What Happened

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares hit a new 52-week low during trading on Wednesday . The company traded as low as C$114.47 and last traded at C$114.93, with a volume of 391253 shares changing hands. The stock had previously closed at C$119.95.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating on the stock in a report on Friday, October 3rd. Scotiabank set a C$140.00 target price on CGI and gave the stock a “sector perform” rating in a research report on Tuesday. Desjardins lowered their price target on shares of CGI from C$169.00 to C$160.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. CIBC downgraded CGI from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$146.00 to C$139.00 in a research report on Monday, December 15th. Finally, Royal Bank Of Canada lowered their target price on shares of CGI from C$165.00 to C$150.00 and set an “outperform” rating on the stock in a research note on Monday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$159.90.

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$125.98 and its 200-day moving average price is C$127.70. The stock has a market cap of C$25.06 billion, a P/E ratio of 15.76, a PEG ratio of 2.24 and a beta of 0.23.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share for the quarter. The business had revenue of C$4.08 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Analysts forecast that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 19th were issued a dividend of $0.17 per share. This is an increase from CGI’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, November 21st. CGI’s dividend payout ratio (DPR) is currently 8.16%.

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.