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

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$154.54 and traded as low as C$147.35. CGI shares last traded at C$147.48, with a volume of 509,753 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GIB.A shares. Raymond James dropped their price target on CGI from C$183.00 to C$178.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Scotiabank reduced their price target on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. TD Securities raised their price objective on shares of CGI from C$180.00 to C$190.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. CIBC upped their target price on shares of CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus lifted their price target on CGI from C$180.00 to C$185.00 in a research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$175.85.

CGI Trading Down 0.3 %

The firm has a market cap of C$30.05 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The business has a 50-day moving average of C$144.75 and a 200-day moving average of C$154.54.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, May 16th.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.