CGI Inc. (NYSE:GIB) to Issue Dividend of $0.11

CGI Inc. (NYSE:GIB) (TSE:GIB.A) declared a dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Wednesday, November 20th will be given a dividend of 0.111 per share by the technology company on Friday, December 20th. The ex-dividend date of this dividend is Wednesday, November 20th.

CGI Price Performance

CGI stock traded up $0.43 during mid-day trading on Thursday, hitting $112.92. 32,654 shares of the company were exchanged, compared to its average volume of 147,657. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $113.97 and a 200 day moving average of $107.58. CGI has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a market capitalization of $25.74 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.03. CGI had a return on equity of 20.21% and a net margin of 11.51%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. As a group, sell-side analysts expect that CGI will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on GIB. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Jefferies Financial Group raised their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, UBS Group assumed coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CGI presently has a consensus rating of “Buy” and a consensus price target of $137.00.

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.