CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Investment analysts at Cormark reduced their FY2017 earnings per share estimates for CGI Group in a report released on Thursday. Cormark analyst R. Peters now anticipates that the technology company will earn $2.95 per share for the year, down from their prior estimate of $3.03. Cormark also issued estimates for CGI Group’s Q4 2017 earnings at $0.77 EPS and FY2018 earnings at $3.31 EPS.
A number of other brokerages have also weighed in on GIB. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research report on Friday, July 21st. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Barclays PLC reissued an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.
Shares of CGI Group (NYSE:GIB) opened at 52.39 on Monday. The stock has a market capitalization of $15.47 billion, a P/E ratio of 17.69 and a beta of 0.92. The company has a 50 day moving average price of $51.20 and a 200-day moving average price of $49.97. CGI Group has a 1-year low of $45.73 and a 1-year high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the firm earned $0.89 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its position in shares of CGI Group by 21.2% during the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after purchasing an additional 380 shares in the last quarter. US Bancorp DE grew its position in shares of CGI Group by 2.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of CGI Group during the 2nd quarter worth approximately $202,000. Letko Brosseau & Associates Inc. acquired a new position in shares of CGI Group during the 2nd quarter worth approximately $203,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of CGI Group during the 2nd quarter worth approximately $214,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.
About CGI Group
CGI Group Inc (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company’s services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions.
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