CGI Inc (TSE:GIB.A) Receives C$174.90 Average Price Target from Brokerages

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$174.90.

GIB.A has been the subject of a number of analyst reports. TD Securities reduced their price objective on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating for the company in a report on Friday, October 3rd. Desjardins dropped their price target on shares of CGI from C$173.00 to C$166.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. CIBC dropped their price target on shares of CGI from C$183.00 to C$180.00 in a research report on Monday, July 21st. Finally, Royal Bank Of Canada dropped their price target on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st.

CGI Stock Up 1.8%

Shares of TSE GIB.A opened at C$126.54 on Wednesday. The stock has a market capitalization of C$28.21 billion, a P/E ratio of 16.76, a P/E/G ratio of 2.24 and a beta of 0.30. The company has a 50-day moving average price of C$129.34 and a 200-day moving average price of C$138.73. CGI has a 1 year low of C$121.69 and a 1 year high of C$175.35. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 15th. CGI’s dividend payout ratio (DPR) is presently 5.96%.

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.