CGI Inc. Declares — Dividend of $0.11 (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) announced a — dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.111 per share by the technology company on Friday, December 20th. This represents a yield of 0.4%. The ex-dividend date is Wednesday, November 20th.

CGI has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CGI to earn $6.47 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 6.6%.

CGI Trading Up 2.0 %

Shares of GIB stock opened at $109.59 on Tuesday. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The firm has a fifty day moving average price of $113.66 and a 200-day moving average price of $108.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.27 and a beta of 0.96.

Analysts Set New Price Targets

GIB has been the subject of a number of recent research reports. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday. Finally, CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, CGI has an average rating of “Buy” and an average price target of $137.00.

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.