CGI (TSE:GIB.A) Price Target Raised to C$120.00

by · The Markets Daily

CGI (TSE:GIB.A – Free Report) (NYSE:GIB) had its target price increased by Stifel Nicolaus from C$110.00 to C$120.00 in a research report report published on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

GIB.A has been the topic of a number of other research reports. Sanford C. Bernstein dropped their price objective on shares of CGI from C$143.00 to C$141.00 in a research note on Thursday, April 30th. Scotiabank decreased their target price 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. Desjardins lowered their price target on shares of CGI from C$147.00 to C$117.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Royal Bank Of Canada lowered shares of CGI from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$150.00 to C$100.00 in a research report on Thursday, April 30th. Finally, Raymond James Financial cut their price objective on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$124.23.

View Our Latest Report on CGI

CGI Stock Down 0.1%

CGI stock opened at C$102.61 on Thursday. The business’s 50-day moving average price is C$93.83 and its 200 day moving average price is C$99.99. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The firm has a market cap of C$21.25 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.24 and a beta of 0.13. CGI has a 52 week low of C$83.34 and a 52 week high of C$135.39.

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 (EPS) for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%.The company had revenue of C$4.19 billion during the quarter. As a group, sell-side analysts anticipate that CGI will post 8.3679245 earnings per share for the current year.

CGI Announces Dividend

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

Key CGI News

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.

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