CGI (TSE:GIB.A) Issues Earnings Results

CGI (TSE:GIB.A) (NYSE:GIB) released its quarterly earnings results on Wednesday. The company reported C$2.29 earnings per share for the quarter, FiscalAI reports. CGI had a return on equity of 19.51% and a net margin of 11.51%.The business had revenue of C$4.19 billion for the quarter.

CGI Trading Up 3.4%

GIB.A stock traded up C$3.44 during trading on Wednesday, reaching C$104.15. The company had a trading volume of 342,916 shares, compared to its average volume of 674,820. 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 has a 52 week low of C$83.34 and a 52 week high of C$142.48. The business has a 50 day moving average of C$93.10 and a 200 day moving average of C$100.35. The company has a market cap of C$21.81 billion, a P/E ratio of 13.60, a PEG ratio of 2.24 and a beta of 0.13.

CGI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 19th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. CGI’s dividend payout ratio is presently 6.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GIB.A shares. Canaccord Genuity Group reduced their price objective on CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Scotiabank cut their price target on shares of CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada lowered shares of CGI from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$150.00 to C$100.00 in a report on Thursday, April 30th. Sanford C. Bernstein decreased their price objective on shares of CGI from C$143.00 to C$141.00 in a research report on Thursday, April 30th. Finally, Scotia reduced their price target on CGI from C$120.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$123.62.

CGI Company Profile

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.