Desjardins Cuts CGI (TSE:GIB.A) Price Target to C$149.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective decreased by Desjardins from C$157.00 to C$149.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports.

Several other brokerages have also weighed in on GIB.A. BMO Capital Markets cut their target price on CGI from C$145.00 to C$137.00 in a research report on Thursday, January 29th. Scotiabank set a C$140.00 price target on CGI and gave the company a “sector perform” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada dropped their price target on CGI from C$165.00 to C$150.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce cut their price objective on CGI from C$132.00 to C$112.00 in a report on Friday, April 17th. Finally, TD Securities lifted their price objective on CGI from C$145.00 to C$153.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CGI has a consensus rating of “Moderate Buy” and a consensus price target of C$144.56.

CGI Stock Performance

Shares of GIB.A stock opened at C$100.04 on Tuesday. CGI has a one year low of C$95.84 and a one year high of C$152.63. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The company has a 50 day moving average price of C$100.60 and a 200 day moving average price of C$115.27. The firm has a market capitalization of C$21.48 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its quarterly earnings results on Wednesday, January 28th. The company reported C$2.12 earnings per share for the quarter. The company had revenue of C$4.08 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Sell-side analysts anticipate that CGI will post 8.3679245 EPS for the current year.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 20th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, February 18th. CGI’s dividend payout ratio (DPR) is currently 6.03%.

About CGI

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. 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.