CGI (NYSE:GIB) Releases Earnings Results, Meets Expectations

CGI (NYSE:GIB) (TSE:GIB.A) issued its quarterly earnings results on Wednesday. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41, Zacks reports. CGI had a return on equity of 19.59% and a net margin of 11.72%.

CGI Price Performance

Shares of NYSE:GIB traded up $1.50 during trading on Friday, reaching $120.51. The stock had a trading volume of 54,543 shares, compared to its average volume of 176,599. The business’s 50-day moving average price is $110.95 and its 200 day moving average price is $111.32. CGI has a 52 week low of $96.92 and a 52 week high of $121.55. The stock has a market capitalization of $27.46 billion, a PE ratio of 21.79, a P/E/G ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 14th will be issued a dividend of $0.1039 per share. This represents a $0.42 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, February 14th. CGI’s dividend payout ratio is currently 8.32%.

Analyst Ratings Changes

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