Canaccord Genuity Group Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its target price raised by Canaccord Genuity Group from C$170.00 to C$175.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other brokerages have also recently issued reports on GIB.A. National Bankshares lifted their target price on CGI from C$175.00 to C$185.00 in a report on Thursday, August 1st. Scotiabank lifted their target price on CGI from C$160.00 to C$170.00 in a report on Friday, August 2nd. CIBC raised CGI from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$155.00 to C$178.00 in a research note on Tuesday, October 15th. Sanford C. Bernstein boosted their price objective on CGI from C$127.00 to C$138.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price objective on CGI from C$121.00 to C$132.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$169.83.

CGI Trading Down 0.7 %

Shares of GIB.A stock opened at C$154.81 on Thursday. CGI has a 12-month low of C$132.06 and a 12-month high of C$160.75. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The stock’s 50-day moving average price is C$155.19 and its 200-day moving average price is C$146.79. The stock has a market capitalization of C$31.55 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

CGI Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.1%.

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.