CGI (TSE:GIB.A) Price Target Cut to C$149.00 by Analysts at CIBC

CGI (TSE:GIB.A) (NYSE:GIB) had its target price cut by CIBC from C$180.00 to C$149.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. TD Securities lowered their price target on CGI from C$190.00 to C$145.00 and set a “buy” rating on the stock in a research note on Friday, October 3rd. Royal Bank Of Canada dropped their target price on CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Finally, Desjardins decreased their price target on CGI from C$173.00 to C$166.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CGI presently has an average rating of “Buy” and a consensus price target of C$171.80.

CGI Trading Down 2.4%

Shares of GIB.A opened at C$119.95 on Wednesday. CGI has a 12-month low of C$119.66 and a 12-month high of C$175.35. 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 has a market capitalization of C$26.74 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 2.24 and a beta of 0.30. The stock’s 50-day moving average price is C$127.43 and its 200 day moving average price is C$137.27.

CGI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.60 annualized dividend and a yield of 0.5%. CGI’s payout ratio is currently 5.96%.

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.