Royal Bank of Canada Reiterates “C$192.00” Price Target for CGI (TSE:GIB.A)

Royal Bank of Canada set a C$192.00 target price on CGI (TSE:GIB.A) (NYSE:GIB) in a report released on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on GIB.A. Raymond James lifted their target price on shares of CGI from C$180.00 to C$183.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. TD Securities upped their price objective on shares of CGI from C$180.00 to C$190.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Stifel Nicolaus raised their target price on CGI from C$180.00 to C$185.00 in a report on Thursday, January 30th. Desjardins upped their price target on CGI from C$178.00 to C$190.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group raised their price objective on CGI from C$175.00 to C$190.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$178.31.

CGI Stock Performance

Shares of GIB.A opened at C$140.53 on Wednesday. CGI has a 52 week low of C$132.06 and a 52 week high of C$175.35. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The company has a market capitalization of C$28.64 billion, a PE ratio of 19.65, a PEG ratio of 2.24 and a beta of 0.86. The company’s 50 day moving average price is C$158.19 and its 200 day moving average price is C$156.99.

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 21st were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.43%.

About CGI

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.