Equities Analysts Set Expectations for CGI Group Inc.’s FY2018 Earnings (GIB)
CGI Group Inc. (NYSE:GIB) – Research analysts at Raymond James Financial issued their FY2018 earnings per share estimates for shares of CGI Group in a research note issued on Wednesday. Raymond James Financial analyst S. Li forecasts that the brokerage will earn $3.02 per share for the year.
Several other research firms also recently issued reports on GIB. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research report on Monday, August 15th. Zacks Investment Research raised CGI Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Jefferies Group increased their price target on CGI Group from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of CGI Group in a research report on Monday, September 26th. Finally, Barclays PLC increased their price target on CGI Group from $50.00 to $52.00 and gave the stock 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 assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $49.33.
Shares of CGI Group (NYSE:GIB) traded down 1.34% during midday trading on Friday, hitting $47.92. The stock had a trading volume of 98,175 shares. CGI Group has a 52-week low of $36.04 and a 52-week high of $50.58. The stock has a market cap of $14.51 billion, a PE ratio of 19.42 and a beta of 0.91. The firm has a 50 day moving average price of $48.22 and a 200-day moving average price of $46.76.
CGI Group (NYSE:GIB) last issued 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. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year.
Several large investors have recently bought and sold shares of GIB. Tower Research Capital LLC TRC raised its stake 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 during the last quarter. US Bancorp DE raised 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 in the last quarter. Invictus RG bought a new position in shares of CGI Group during the first quarter worth $125,000. Daiwa SB Investments Ltd. bought a new position in shares of CGI Group during the second quarter worth $179,000. Finally, C M Bidwell & Associates Ltd. raised 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 in 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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