CGI Group Inc. (GIB) Shares Up 2.5%
CGI Group Inc. (NYSE:GIB) shot up 2.5% during mid-day trading on Thursday . The stock traded as high as $49.94 and last traded at $49.90, with a volume of 114,275 shares. The stock had previously closed at $48.69.
Several research firms have recently commented on GIB. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating on shares of CGI Group in a report on Monday, August 15th. Jefferies Group boosted their price target on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a report on Monday, August 1st. Barclays PLC boosted their price target on CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Finally, Desjardins upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $49.20.
The firm has a market cap of $15.14 billion and a P/E ratio of 19.84. The stock’s 50-day moving average price is $47.91 and its 200 day moving average price is $45.89.
CGI Group (NYSE:GIB) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The business earned $2.67 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that CGI Group Inc. will post $2.65 earnings per share for the current 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.