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

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$97.89 and traded as high as C$104.82. CGI shares last traded at C$103.51, with a volume of 979,957 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Scotia reduced their price objective on 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. Canadian Imperial Bank of Commerce boosted their price objective on CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Raymond James Financial decreased their target price on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. BMO Capital Markets decreased their price objective on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, National Bank Financial set a C$135.00 price objective on shares of CGI and gave the stock an “outperform” rating in a research report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, CGI currently has an average rating of “Moderate Buy” and a consensus price target of C$124.23.

CGI Trading Up 0.8%

The company’s 50 day moving average price is C$96.57 and its 200 day moving average price is C$97.83. The company has a market cap of C$21.36 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.14. 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 released its quarterly earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. The company had revenue of C$4.19 billion during the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. Research analysts anticipate that CGI Inc will post 8.3679245 EPS for the current year.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. CGI’s payout ratio is 6.09%.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 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.