Analysts Issue Forecasts for CGI Group Inc.’s FY2016 Earnings (GIB)
CGI Group Inc. (NYSE:GIB) – Investment analysts at National Bank Financial issued their FY2016 earnings per share (EPS) estimates for shares of CGI Group in a research report issued to clients and investors on Monday. National Bank Financial analyst K. Thompson expects that the brokerage will post earnings per share of $2.64 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 also recently weighed in on the stock. Macquarie assumed coverage on shares of CGI Group in a research report on Tuesday. They set a “neutral” rating and a $50.00 price target for the company. Zacks Investment Research raised shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research report on Thursday, September 8th. Jefferies Group raised their price target on shares of CGI Group from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Finally, Barclays PLC raised their price target on shares of CGI Group from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.33.
CGI Group (NYSE:GIB) opened at 47.68 on Thursday. CGI Group has a 1-year low of $35.58 and a 1-year high of $50.58. The firm has a market capitalization of $14.43 billion, a PE ratio of 19.31 and a beta of 0.93. The stock’s 50 day moving average is $48.35 and its 200-day moving average is $46.62.
CGI Group (NYSE:GIB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. 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 prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.
A number of large investors have recently bought and sold shares of GIB. Royal Bank of Canada boosted its stake in CGI Group by 3.8% in the first quarter. Royal Bank of Canada now owns 7,065,433 shares of the company’s stock worth $337,587,000 after buying an additional 261,245 shares during the last quarter. Legal & General Group Plc boosted its stake in CGI Group by 3.0% in the first quarter. Legal & General Group Plc now owns 1,035,854 shares of the company’s stock worth $49,707,000 after buying an additional 29,783 shares during the last quarter. Virginia Retirement System bought a new stake in CGI Group during the first quarter worth about $7,702,000. British Columbia Investment Management Corp boosted its stake in CGI Group by 3.0% in the second quarter. British Columbia Investment Management Corp now owns 34,200 shares of the company’s stock worth $1,125,000 after buying an additional 1,000 shares during the last quarter. Finally, Invictus RG bought a new stake in CGI Group during the first quarter worth about $125,000. Institutional investors own 71.70% of the company’s stock.
About CGI Group
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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