CGI (TSE:GIB.A) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$103.58 and traded as low as C$93.23. CGI shares last traded at C$93.93, with a volume of 495,336 shares changing hands.

Wall Street Analyst Weigh In

GIB.A has been the topic of a number of research analyst reports. Royal Bank Of Canada downgraded CGI from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$150.00 to C$100.00 in a research report on Thursday, April 30th. Scotia cut their price target on CGI from C$120.00 to C$110.00 and set a “sector perform” rating for the company in a report on Thursday, April 30th. Raymond James Financial reduced their price objective on CGI from C$168.00 to C$130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Scotiabank decreased their price objective on CGI from C$140.00 to C$120.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. Finally, National Bank Financial set a C$135.00 target price on CGI and gave the company an “outperform” rating in a research report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$126.31.

CGI Stock Performance

The business’s fifty day moving average price is C$91.73 and its two-hundred day moving average price is C$103.58. 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 stock has a market capitalization of C$19.67 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A) (NYSE:GIB) last announced its quarterly earnings results on Wednesday, April 29th. The company reported C$2.27 EPS for the quarter. The firm had revenue of C$4.16 billion during the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. As a group, sell-side analysts forecast that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 19th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. CGI’s dividend payout ratio (DPR) is presently 6.14%.

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.