CGI Inc. (NYSE:GIB) Announces $0.10 Quarterly Dividend

CGI Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.1039 per share by the technology company on Friday, March 21st. This represents a $0.42 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 14th.

CGI has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CGI to earn $6.35 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 6.6%.

CGI Trading Up 4.0 %

Shares of NYSE:GIB traded up $4.59 during trading on Thursday, reaching $119.13. The stock had a trading volume of 379,798 shares, compared to its average volume of 177,249. CGI has a 52 week low of $96.92 and a 52 week high of $121.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The firm’s fifty day moving average is $110.81 and its 200 day moving average is $111.27. The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.40 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.53% and a return on equity of 19.74%. As a group, equities analysts forecast that CGI will post 5.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group reduced their target price on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price target on shares of CGI in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CGI presently has a consensus rating of “Buy” and an average target price of $150.75.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.