CGI (TSE:GIB.A) Hits New 1-Year High – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB) reached a new 52-week high on Monday . The stock traded as high as C$163.41 and last traded at C$163.05, with a volume of 52459 shares trading hands. The stock had previously closed at C$160.58.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GIB.A. CIBC upgraded shares of CGI from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$155.00 to C$178.00 in a report on Tuesday, October 15th. Canaccord Genuity Group boosted their target price on CGI from C$170.00 to C$175.00 in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on CGI from C$170.00 to C$178.00 in a report on Thursday, November 7th. Finally, Raymond James upped their price target on shares of CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$169.83.

CGI Price Performance

The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The firm’s 50-day moving average is C$157.32 and its two-hundred day moving average is C$153.27. The company has a market cap of C$33.58 billion, a P/E ratio of 23.04, a PEG ratio of 2.24 and a beta of 0.86.

CGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Wednesday, November 20th.

About CGI

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.