Desjardins Cuts CGI (TSE:GIB.A) Price Target to C$117.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective reduced by Desjardins from C$147.00 to C$117.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on GIB.A. Canadian Imperial Bank of Commerce lowered their price target on shares of CGI from C$132.00 to C$112.00 in a research report on Friday, April 17th. Raymond James Financial reduced their price objective on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Stifel Nicolaus lowered their target price on CGI from C$160.00 to C$128.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Canaccord Genuity Group dropped their target price on CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Scotiabank cut their price target on CGI from C$140.00 to C$120.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$123.62.

CGI Price Performance

Shares of GIB.A stock opened at C$89.86 on Tuesday. CGI has a twelve month low of C$83.34 and a twelve month high of C$142.48. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The stock has a fifty day simple moving average of C$92.51 and a two-hundred day simple moving average of C$100.97. The stock has a market capitalization of C$18.82 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A) (NYSE:GIB) last released its quarterly earnings data 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 firm had revenue of C$4.16 billion during the quarter. On average, analysts predict that CGI will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 19th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.8%. CGI’s dividend payout ratio 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 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.