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

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

GIB.A has been the subject of several other reports. Desjardins increased their price target on shares of CGI from C$178.00 to C$190.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Canaccord Genuity Group increased their price target on shares of CGI from C$175.00 to C$190.00 and gave the company a “buy” rating in a report on Thursday, January 30th. TD Securities upped their price objective on CGI from C$180.00 to C$190.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their target price on CGI from C$177.00 to C$190.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank upped their price target on CGI from C$170.00 to C$185.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$178.31.

CGI Stock Performance

Shares of GIB.A stock opened at C$143.00 on Wednesday. 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$29.14 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.24 and a beta of 0.86. The stock has a fifty day moving average of C$158.80 and a 200 day moving average of C$157.11. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 21st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 0.42%.

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.