CIBC Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective increased by CIBC from C$178.00 to C$183.00 in a research report sent to investors on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of CGI from C$170.00 to C$175.00 in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of CGI from C$170.00 to C$178.00 in a research note on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of CGI from C$180.00 to C$185.00 in a research note on Thursday. Finally, Raymond James boosted their target price on shares of CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$178.31.

CGI Trading Up 4.2 %

Shares of TSE:GIB.A opened at C$172.46 on Thursday. CGI has a 52-week low of C$132.06 and a 52-week high of C$175.35. The company has a market capitalization of C$35.15 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company has a 50-day simple moving average of C$157.88 and a 200 day simple moving average of C$153.67. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Wednesday, November 20th.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.