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

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) declared a quarterly dividend on Wednesday, April 29th. Stockholders of record on Friday, May 15th will be given a dividend of 0.17 per share by the technology company on Friday, June 19th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th.

CGI Group has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CGI Group to earn $7.09 per share next year, which means the company should continue to be able to cover its $0.49 annual dividend with an expected future payout ratio of 6.9%.

CGI Group Trading Down 10.8%

Shares of NYSE GIB traded down $7.94 during midday trading on Wednesday, hitting $65.57. The stock had a trading volume of 1,916,480 shares, compared to its average volume of 484,565. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 12.28 and a beta of 0.58. CGI Group has a 1-year low of $61.90 and a 1-year high of $110.07. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $73.21 and a 200 day moving average price of $82.90.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.04). The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.08 billion. CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, analysts predict that CGI Group will post 6.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GIB shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of CGI Group in a research note on Wednesday, April 1st. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. TD Securities upgraded CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Scotiabank began coverage on CGI Group in a report on Tuesday, January 27th. They set a “sector perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.00.

CGI Group Company Profile

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.