Brokers Issue Forecasts for CGI Group Inc.’s FY2016 Earnings (GIB)
CGI Group Inc. (NYSE:GIB) – National Bank Financial issued their FY2016 earnings per share (EPS) estimates for shares of CGI Group in a report issued on Monday. National Bank Financial analyst K. Thompson forecasts that the brokerage will post earnings of $2.64 per share for the year. National Bank Financial currently has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for CGI Group’s Q4 2016 earnings at $0.68 EPS and FY2017 earnings at $2.87 EPS.
A number of other analysts have also recently weighed in on the company. Macquarie assumed coverage on CGI Group in a research report on Tuesday. They issued a “neutral” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a research report on Thursday, September 8th. Jefferies Group upped their price target on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Monday, August 1st. Finally, Barclays PLC upped their price target on CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. CGI Group has a consensus rating of “Buy” and a consensus target price of $49.33.
Shares of CGI Group (NYSE:GIB) opened at 47.63 on Thursday. The stock has a 50 day moving average of $48.31 and a 200-day moving average of $46.65. The stock has a market capitalization of $14.42 billion, a P/E ratio of 19.09 and a beta of 0.93. CGI Group has a 1-year low of $36.04 and a 1-year high of $50.58.
CGI Group (NYSE:GIB) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS.
A number of institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock valued at $103,000 after buying an additional 1,825 shares in the last quarter. US Bancorp DE boosted its position in CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock valued at $107,000 after buying an additional 799 shares in the last quarter. Invictus RG purchased a new position in CGI Group during the first quarter valued at about $125,000. Daiwa SB Investments Ltd. purchased a new position in CGI Group during the second quarter valued at about $179,000. Finally, C M Bidwell & Associates Ltd. boosted its position in CGI Group by 2,367.7% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,825 shares of the company’s stock valued at $183,000 after buying an additional 3,670 shares in the last quarter. Institutional investors and hedge funds own 71.70% of the company’s stock.
CGI Group Company Profile
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.
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