CGI Inc. (NYSE:GIB) Declares Quarterly Dividend of $0.10

CGI Inc. (NYSE:GIB) (TSE:GIB.A) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.1039 per share by the technology company on Friday, March 21st. This represents a $0.42 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, February 14th.

CGI has a dividend payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CGI to earn $6.35 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 6.6%.

CGI Price Performance

NYSE GIB traded up $4.59 during trading hours on Thursday, hitting $119.13. The company had a trading volume of 379,798 shares, compared to its average volume of 177,249. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The firm has a market capitalization of $27.15 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.40 and a beta of 0.95. CGI has a 52 week low of $96.92 and a 52 week high of $121.55. The firm has a 50 day simple moving average of $110.81 and a 200 day simple moving average of $111.27.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.53% and a return on equity of 19.74%. Equities research analysts expect that CGI will post 5.9 earnings per share for the current year.

Analysts Set New Price Targets

GIB has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Jefferies Financial Group dropped their target price on shares of CGI from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, CGI currently has an average rating of “Buy” and an average price target of $150.75.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.