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

by · The Cerbat Gem

CGI (TSE:GIB.A – Free Report) (NYSE:GIB) had its price objective boosted by TD from C$99.00 to C$118.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. TD currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank reduced their price objective on shares of CGI from C$140.00 to C$120.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. National Bank Financial set a C$135.00 target price on CGI and gave the company an “outperform” rating in a research report on Friday, June 12th. BMO Capital Markets cut their price target on CGI from C$137.00 to C$122.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Stifel Nicolaus reduced their price target on CGI from C$160.00 to C$128.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group reduced their price target on CGI from C$150.00 to C$140.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$124.23.

Read Our Latest Stock Report on GIB.A

CGI Trading Down 0.1%

TSE:GIB.A opened at C$102.61 on Thursday. CGI has a one year low of C$83.34 and a one year high of C$135.39. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market cap of C$21.25 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.24 and a beta of 0.13. The firm has a 50-day simple moving average of C$93.83 and a 200-day simple moving average of C$99.99.

CGI (TSE:GIB.A – Get Free Report) (NYSE:GIB) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share 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 during the quarter. Equities analysts anticipate that CGI will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The company 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 $0.17 dividend. 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 payout ratio is presently 6.14%.

CGI News Roundup

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.

CGI Company Profile

(Get Free Report)

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.

Recommended Stories