CGI (TSE:GIB.A) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$106.44 and traded as low as C$86.20. CGI shares last traded at C$86.79, with a volume of 653,382 shares trading hands.

Wall Street Analysts Forecast Growth

GIB.A has been the topic of several research analyst reports. Sanford C. Bernstein decreased their target price on shares of CGI from C$143.00 to C$141.00 in a research report on Thursday, April 30th. Scotia cut their price target on shares of CGI from C$120.00 to C$110.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 30th. Canaccord Genuity Group decreased their price target on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. National Bank Financial set a C$135.00 price objective on shares of CGI and gave the company an “outperform” rating in a research note on Friday, June 12th. Finally, Canadian Imperial Bank of Commerce dropped their price objective on CGI from C$132.00 to C$112.00 in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$126.31.

CGI Stock Up 1.3%

The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The firm has a market capitalization of C$18.81 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09. The firm has a 50 day moving average price of C$93.73 and a two-hundred day moving average price of C$105.92.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its earnings results on Wednesday, April 29th. The company reported C$2.27 earnings per share (EPS) for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The firm had revenue of C$4.16 billion during the quarter. On average, equities analysts expect that CGI Inc will post 8.3679245 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 19th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.68 annualized dividend and a dividend yield of 0.8%. CGI’s dividend payout ratio 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.