CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at Cormark cut their Q4 2017 earnings estimates for shares of CGI Group in a note issued to investors on Thursday. Cormark analyst R. Peters now anticipates that the technology company will earn $0.77 per share for the quarter, down from their prior estimate of $0.78.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.01. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year.

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Several other analysts also recently commented on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Wednesday. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a report on Friday, July 21st. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Beacon Securities reiterated a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. CGI Group presently has a consensus rating of “Buy” and a consensus target price of $61.00.

Shares of CGI Group (GIB) traded down 0.99% on Monday, reaching $50.11. 95,796 shares of the company’s stock were exchanged. CGI Group has a 52-week low of $45.73 and a 52-week high of $53.65. The stock has a market cap of $14.75 billion, a P/E ratio of 17.53 and a beta of 0.93. The company’s 50 day moving average price is $51.73 and its 200-day moving average price is $49.00.

Institutional investors have recently modified their holdings of the company. Jarislowsky Fraser Ltd boosted its position in shares of CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after buying an additional 1,304,144 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CGI Group by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,298,962 shares of the technology company’s stock worth $253,979,000 after buying an additional 133,978 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of CGI Group by 5.6% in the second quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock worth $136,408,000 after buying an additional 141,003 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of CGI Group by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock worth $128,583,000 after buying an additional 77,377 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after buying an additional 550,382 shares in the last quarter. Institutional investors own 63.36% of the company’s stock.

About CGI Group

CGI Group Inc (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company’s services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions.

Earnings History and Estimates for CGI Group (NYSE:GIB)

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