CGI (TSE:GIB.A) Stock Crosses Below 200 Day Moving Average – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$154.54 and traded as low as C$147.35. CGI shares last traded at C$147.48, with a volume of 509,753 shares traded.

Wall Street Analyst Weigh In

GIB.A has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of CGI from C$180.00 to C$185.00 in a research report on Thursday, January 30th. Canaccord Genuity Group reduced their target price on CGI from C$190.00 to C$180.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. CIBC raised their price target on CGI from C$178.00 to C$183.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank reduced their price objective on CGI from C$185.00 to C$175.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, BMO Capital Markets raised their target price on CGI from C$177.00 to C$190.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CGI currently has an average rating of “Buy” and an average price target of C$175.85.

CGI Stock Performance

The stock’s 50 day moving average is C$144.75 and its two-hundred day moving average is C$154.54. The firm has a market capitalization of C$30.05 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, May 16th.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.