CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at National Bank Financial dropped their FY2017 earnings per share estimates for shares of CGI Group in a report issued on Wednesday. National Bank Financial analyst R. Tse now forecasts that the technology company will earn $2.93 per share for the year, down from their previous estimate of $2.96. National Bank Financial also issued estimates for CGI Group’s Q4 2017 earnings at $0.74 EPS.
GIB has been the topic of several other reports. Beacon Securities restated a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Barclays PLC restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. CGI Group presently has a consensus rating of “Buy” and a consensus target price of $61.00.
Shares of CGI Group (NYSE GIB) opened at 51.18 on Monday. The company has a 50-day moving average price of $51.60 and a 200 day moving average price of $48.95. The firm has a market capitalization of $15.06 billion, a PE ratio of 17.91 and a beta of 0.93. CGI Group has a 12-month low of $45.73 and a 12-month high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of GIB. US Bancorp DE raised its position in shares of CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of CGI Group during the first quarter valued at $173,000. Quantitative Systematic Strategies LLC bought a new position in shares of CGI Group during the second quarter valued at $202,000. Campbell & CO Investment Adviser LLC bought a new position in shares of CGI Group during the first quarter valued at $205,000. Finally, Marshall Wace North America L.P. bought a new position in shares of CGI Group during the second quarter valued at $214,000. Institutional investors own 63.36% of the company’s stock.
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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