Canaccord Genuity Group Issues Positive Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its target price upped by Canaccord Genuity Group from C$175.00 to C$190.00 in a report released on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on GIB.A. Raymond James raised their target price on CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on CGI from C$170.00 to C$178.00 in a report on Thursday, November 7th. CIBC raised their target price on CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus raised their target price on CGI from C$180.00 to C$185.00 in a report on Thursday. Finally, Canaccord Genuity Group raised their price target on CGI from C$170.00 to C$175.00 in a research report on Thursday, November 7th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, CGI presently has a consensus rating of “Buy” and an average target price of C$178.31.

CGI Stock Performance

CGI stock 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 firm has a market capitalization of C$35.15 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a fifty day moving average price of C$157.88 and a two-hundred day moving average price of C$153.67.

CGI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.60 dividend on an annualized basis and a yield of 0.35%.

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.