CGI Group Inc (NYSE:GIB) (TSE:GIB.A) has been given an average rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $71.00.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. ValuEngine upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Barclays boosted their price objective on shares of CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Scotiabank boosted their price objective on shares of CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th.
CGI Group (NYSE GIB) opened at $55.97 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 0.99. The company has a market cap of $14,320.00, a P/E ratio of 20.06, a P/E/G ratio of 1.82 and a beta of 0.77. CGI Group has a 52 week low of $45.81 and a 52 week high of $58.93.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 9.50% and a return on equity of 17.54%. CGI Group’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. analysts forecast that CGI Group will post 3.36 earnings per share for the current year.
CGI Group announced that its board has authorized a stock repurchase program on Wednesday, January 31st that authorizes the company to buyback 20,590,000 outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the business. Fort L.P. grew its position in CGI Group by 16.4% during the 4th quarter. Fort L.P. now owns 463,439 shares of the technology company’s stock worth $25,179,000 after purchasing an additional 65,375 shares during the last quarter. RDL Financial Inc. grew its position in CGI Group by 5.7% during the 4th quarter. RDL Financial Inc. now owns 18,198 shares of the technology company’s stock worth $989,000 after purchasing an additional 975 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in CGI Group by 75.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 153,191 shares of the technology company’s stock worth $8,344,000 after purchasing an additional 65,681 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in CGI Group during the 4th quarter worth approximately $32,704,000. Finally, Bank of New York Mellon Corp grew its position in CGI Group by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 260,101 shares of the technology company’s stock worth $14,130,000 after purchasing an additional 3,772 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors.
CGI Group Company Profile
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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