CGI Group, Inc. Declares Quarterly Dividend of C$0.17 (NYSE:GIB)

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, August 14th will be given a dividend of 0.17 per share by the technology company on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th.

CGI Group has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CGI Group to earn $7.13 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 7.0%.

CGI Group Stock Up 4.7%

NYSE GIB traded up $3.35 during trading hours on Wednesday, hitting $74.75. 1,631,384 shares of the company traded hands, compared to its average volume of 495,761. The business’s 50-day moving average is $66.32 and its 200-day moving average is $72.60. CGI Group has a twelve month low of $59.63 and a twelve month high of $103.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 13.49 and a beta of 0.48.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share for the quarter, hitting the consensus estimate of $1.65. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm earned $2.12 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that CGI Group will post 6.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GIB. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. TD Securities downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. UBS Group lowered their price target on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada cut shares of CGI Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CGI Group currently has a consensus rating of “Reduce” and a consensus target price of $83.67.

About CGI Group

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.