CGI Group Inc. (GIB) Hits New 52-Week High at $50.58
CGI Group Inc. (NYSE:GIB) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $50.58 and last traded at $50.09, with a volume of 116,760 shares changing hands. The stock had previously closed at $49.84.
A number of research analysts have issued reports on GIB shares. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Desjardins raised CGI Group from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Barclays PLC boosted their target price on CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Jefferies Group boosted their target price on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Monday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research note on Monday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $49.20.
The stock has a 50 day moving average of $47.76 and a 200-day moving average of $45.86. The company has a market cap of $15.15 billion and a price-to-earnings ratio of 19.64.
CGI Group (NYSE:GIB) last announced its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. During the same period in the prior year, the business earned $0.80 earnings per share. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that CGI Group Inc. will post $2.65 EPS for the current fiscal year.
CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.