CGI (TSE:GIB.A) Price Target Raised to C$118.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective increased by Desjardins from C$117.00 to C$118.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada lowered shares of CGI from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$150.00 to C$100.00 in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their price objective on shares of CGI from C$107.00 to C$108.00 in a report on Thursday. BMO Capital Markets lowered their price objective on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Finally, National Bank Financial set a C$135.00 target price on shares of CGI and gave the company an “outperform” rating in a report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, CGI presently has an average rating of “Moderate Buy” and an average price target of C$124.23.

CGI Stock Down 0.1%

Shares of TSE:GIB.A opened at C$102.61 on Thursday. The business has a 50-day moving average price of C$93.83 and a 200 day moving average price of C$99.99. 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 company has a market capitalization of C$21.25 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.24 and a beta of 0.13. CGI has a 12-month low of C$83.34 and a 12-month high of C$135.39.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 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$4.19 billion for the quarter. Sell-side analysts expect that CGI will post 8.3679245 EPS for the current year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. CGI’s dividend payout ratio is currently 6.14%.

Key Headlines Impacting CGI

Here are the key news stories impacting CGI this week:

• Positive Sentiment: Strong third-quarter earnings: CGI reported a quarterly profit of approximately C$465.2 million, up from C$408.6 million a year earlier. The company also reported C$2.29 in earnings per share and C$4.19 billion in revenue, highlighting continued earnings growth. CGI reports $465-million profit, up from a year ago
• Positive Sentiment: Analysts raised their targets: Stifel Nicolaus increased its target from C$110 to C$120 and assigned a “buy” rating. TD raised its target from C$99 to C$118 while maintaining a “hold” rating, and Desjardins lifted its target from C$117 to C$118 with a “buy” rating. CIBC also raised its target from C$107 to C$108. These revisions imply roughly 5% to 17% potential upside based on the cited reference price. BayStreet.CA analyst ratings
• Positive Sentiment: AI-related growth initiatives: Management highlighted strategic investments in artificial intelligence and described AI-driven momentum as an important contributor to CGI’s growth outlook. CGI Inc. earnings call highlights AI-driven momentum
• Positive Sentiment: Quarterly dividend announced: CGI declared a C$0.17-per-share dividend, implying approximately C$0.68 annually and a yield of about 0.7%. Shareholders of record on September 18 are scheduled to receive the dividend on September 18, with August 14 listed as the ex-dividend date.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 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.