CGI Group Inc. (NYSE:GIB) Receives Consensus Recommendation of “Buy” from Analysts
CGI Group Inc. (NYSE:GIB) has been given a consensus rating of “Buy” by the thirteen research firms that are covering the firm. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.80.
A number of analysts have issued reports on the stock. National Bank Financial reiterated an “outperform overweight” rating on shares of CGI Group in a report on Monday, September 26th. Macquarie assumed coverage on shares of CGI Group in a report on Tuesday, September 27th. They issued a “neutral” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research note on Thursday, September 8th. Finally, Jefferies Group lifted their price objective on shares of CGI Group from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, August 1st.
CGI Group (NYSE:GIB) traded down 1.40% during mid-day trading on Friday, reaching $47.89. 92,354 shares of the company’s stock traded hands. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 19.40 and a beta of 0.91. The firm’s 50-day moving average price is $48.22 and its 200 day moving average price is $46.76. CGI Group has a one year low of $36.04 and a one year high of $50.58.
CGI Group (NYSE:GIB) last announced 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 company 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%. CGI Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. On average, equities analysts forecast that CGI Group will post $2.64 EPS for the current year.
Several institutional investors have recently made changes to their positions in GIB. Tower Research Capital LLC TRC boosted its position in shares of CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock worth $103,000 after buying an additional 1,825 shares during the last quarter. US Bancorp DE boosted its position in shares of CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock worth $107,000 after buying an additional 799 shares during the last quarter. Invictus RG acquired a new position in shares of CGI Group during the first quarter worth approximately $125,000. Daiwa SB Investments Ltd. acquired a new position in shares of CGI Group during the second quarter worth approximately $179,000. Finally, C M Bidwell & Associates Ltd. boosted its position in shares of 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 worth $183,000 after buying an additional 3,670 shares during the last quarter. 71.70% of the stock is currently owned by institutional investors and hedge funds.
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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