CGI Group Inc. (GIB) Hits New 52-Week High at $49.79
Shares of CGI Group Inc. (NYSE:GIB) reached a new 52-week high during trading on Tuesday . The company traded as high as $49.79 and last traded at $49.56, with a volume of 65,166 shares traded. The stock had previously closed at $48.89.
A number of analysts have recently commented on the stock. Barclays PLC boosted their target price on shares of CGI Group from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Canaccord Genuity assumed coverage on shares of CGI Group in a research note on Tuesday, May 3rd. They set a “buy” rating for the company. Desjardins raised shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Jefferies Group reissued a “hold” rating and set a $41.00 target price on shares of CGI Group in a research note on Thursday, April 28th. Finally, Zacks Investment Research cut shares of CGI Group from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.20.
The firm has a market capitalization of $14.98 billion and a P/E ratio of 19.70. The stock’s 50 day moving average is $46.56 and its 200 day moving average is $45.46.
CGI Group (NYSE:GIB) last issued its quarterly earnings data 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. The business 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 business posted $0.80 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that CGI Group Inc. will post $2.70 earnings per share for the current year.
An institutional investor recently raised its position in CGI Group stock. Morgan Stanley boosted its stake in CGI Group Inc. (NYSE:GIB) by 30.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 418,955 shares of the company’s stock after buying an additional 97,574 shares during the period. Morgan Stanley owned 0.14% of CGI Group worth $16,771,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.