CGI Group, Inc. (GIB) to Issue Quarterly Dividend of C$0.17 on June 19th

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) declared a quarterly dividend on Tuesday, April 28th. Investors of record on Friday, May 15th will be paid a dividend of 0.17 per share by the technology company on Friday, June 19th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th.

CGI Group has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CGI Group to earn $7.09 per share next year, which means the company should continue to be able to cover its $0.49 annual dividend with an expected future payout ratio of 6.9%.

CGI Group Trading Down 1.6%

Shares of GIB traded down $1.02 during mid-day trading on Thursday, reaching $64.57. The company’s stock had a trading volume of 367,708 shares, compared to its average volume of 482,757. CGI Group has a 52 week low of $61.90 and a 52 week high of $110.07. The stock has a market cap of $13.87 billion, a PE ratio of 12.13 and a beta of 0.58. The company’s fifty day moving average price is $73.04 and its two-hundred day moving average price is $82.78. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business earned $1.97 EPS. CGI Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that CGI Group will post 6.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GIB. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down from $150.00) on shares of CGI Group in a report on Thursday. TD Securities upgraded CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Weiss Ratings cut CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Finally, Scotiabank initiated coverage on CGI Group in a research report on Tuesday, January 27th. They issued a “sector perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CGI Group currently has a consensus rating of “Hold” and a consensus price target of $95.33.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.