CGI (NYSE:GIB) Posts Quarterly Earnings Results, Hits Estimates

CGI (NYSE:GIB) (TSE:GIB.A) announced its quarterly earnings data on Wednesday. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41, Zacks reports. CGI had a net margin of 11.53% and a return on equity of 19.74%.

CGI Stock Up 4.5 %

CGI stock traded up $5.13 during trading hours on Thursday, hitting $119.67. The company had a trading volume of 61,861 shares, compared to its average volume of 162,184. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $119.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The firm has a market capitalization of $27.27 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95. The firm’s fifty day moving average is $110.81 and its 200-day moving average is $111.27.

CGI Dividend Announcement

The business also recently declared a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were issued a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s dividend payout ratio is currently 8.55%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GIB. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group decreased their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $178.00 price target on shares of CGI in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CGI currently has a consensus rating of “Buy” and an average price target 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.