Equities Analysts Set Expectations for CGI Group Inc.’s FY2018 Earnings (GIB)
CGI Group Inc. (NYSE:GIB) – Stock analysts at Raymond James Financial issued their FY2018 earnings per share (EPS) estimates for CGI Group in a research note issued to investors on Wednesday. Raymond James Financial analyst S. Li anticipates that the firm will post earnings per share of $3.02 for the year.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, June 28th. Canaccord Genuity reaffirmed a “buy” rating on shares of CGI Group in a research note on Monday, August 15th. Jefferies Group upped their price target on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Monday, August 1st. Macquarie assumed coverage on CGI Group in a research note on Tuesday, September 27th. They set a “neutral” rating and a $50.00 target price for the company. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of CGI Group in a research note on Monday, September 26th. One equities 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. CGI Group currently has a consensus rating of “Buy” and a consensus target price of $49.33.
CGI Group (NYSE:GIB) traded down 1.34% during mid-day trading on Friday, reaching $47.92. 98,175 shares of the company’s stock were exchanged. The company has a market cap of $14.51 billion, a PE ratio of 19.42 and a beta of 0.91. CGI Group has a 52-week low of $36.04 and a 52-week high of $50.58. The stock 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 posted its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The firm earned $2.67 billion during the quarter, compared to analysts’ expectations of $2.67 billion. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in CGI Group by 9.4% in the second quarter. FMR LLC now owns 21,296,280 shares of the company’s stock worth $909,742,000 after buying an additional 1,823,305 shares during the period. Mackenzie Financial Corp bought a new stake in CGI Group during the second quarter valued at approximately $41,120,000. Massachusetts Financial Services Co. MA increased its stake in CGI Group by 245.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,047,643 shares of the company’s stock valued at $44,745,000 after buying an additional 743,982 shares during the last quarter. Vanguard Group Inc. increased its stake in CGI Group by 10.0% in the second quarter. Vanguard Group Inc. now owns 4,770,355 shares of the company’s stock valued at $203,742,000 after buying an additional 434,977 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in CGI Group by 24.7% in the second quarter. Acadian Asset Management LLC now owns 2,066,100 shares of the company’s stock valued at $87,797,000 after buying an additional 409,900 shares during the last quarter. 71.70% of the stock is owned by hedge funds and other institutional investors.
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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