CGI Inc. Declares Quarterly Dividend of $0.10 (NYSE:GIB)

CGI Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.1039 per share by the technology company on Friday, March 21st. This represents a $0.42 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, February 14th.

CGI has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CGI to earn $6.28 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 6.5%.

CGI Price Performance

Shares of GIB stock traded up $0.31 during trading hours on Monday, hitting $118.13. 307,498 shares of the company's stock were exchanged, compared to its average volume of 198,619. CGI has a 12-month low of $96.92 and a 12-month high of $121.55. The company has a market capitalization of $26.78 billion, a PE ratio of 21.36, a PEG ratio of 2.59 and a beta of 0.94. The business's 50 day simple moving average is $111.08 and its 200-day simple moving average is $111.47. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, equities research analysts anticipate that CGI will post 5.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GIB shares. CIBC raised CGI from a "neutral" rating to an "outperformer" rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com raised shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and set a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. UBS Group upped their price target on CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Jefferies Financial Group decreased their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $153.25.

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.