CGI Inc. (NYSE:GIB) to Issue Dividend of $0.11

CGI Inc. (NYSE:GIB) (TSE:GIB.A) declared a dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.111 per share by the technology company on Friday, December 20th. The ex-dividend date of this dividend is Wednesday, November 20th.

CGI Price Performance

Shares of NYSE:GIB traded down $0.30 during trading on Thursday, hitting $112.49. 198,433 shares of the company were exchanged, compared to its average volume of 109,427. The business’s 50 day moving average is $113.97 and its 200-day moving average is $107.58. The company has a market capitalization of $25.64 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. CGI has a 1-year low of $96.92 and a 1-year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. Equities analysts forecast that CGI will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GIB shares. Jefferies Financial Group upped their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, UBS Group started coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $137.00.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.