CGI (NYSE:GIB) Announces Quarterly Earnings Results, Hits Expectations

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A posted its quarterly earnings results on Wednesday. The technology company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41, Zacks reports. CGI had a net margin of 11.53% and a return on equity of 19.74%.

CGI Trading Up 4.0 %

Shares of GIB traded up $4.59 during trading hours on Thursday, reaching $119.13. 459,023 shares of the company traded hands, compared to its average volume of 181,836. CGI has a 12 month low of $96.92 and a 12 month high of $121.55. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company's fifty day moving average price is $110.81 and its two-hundred day moving average price is $111.27. The company has a market capitalization of $27.15 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be issued a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.35%. CGI's dividend payout ratio (DPR) is presently 8.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GIB shares. Royal Bank of Canada restated an "outperform" rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. CIBC raised shares of CGI from a "neutral" rating to an "outperformer" rating and lifted their target price for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Cibc World Mkts upgraded shares of CGI from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 15th. Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com raised shares of CGI from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $150.75.

CGI Company Profile

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.