CGI Group Inc. (NYSE:GIB) Receives $49.80 Consensus Target Price from Analysts
CGI Group Inc. (NYSE:GIB) has been given a consensus recommendation of “Buy” by the thirteen analysts that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $49.80.
Several research firms have recently issued reports on GIB. National Bank Financial reaffirmed an “outperform overweight” rating on shares of CGI Group in a research note on Monday, September 26th. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, June 28th. Jefferies Group upped their price objective on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Monday, August 1st. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research report on Thursday, September 8th. Finally, Barclays PLC increased their target price on shares of CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th.
Several institutional investors have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware boosted its position in CGI Group by 7.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 33,518 shares of the company’s stock worth $1,601,000 after buying an additional 2,426 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of CGI Group during the first quarter worth about $723,000. C M Bidwell & Associates Ltd. boosted 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. M&T Bank Corp boosted its position in shares of CGI Group by 48.5% in the first quarter. M&T Bank Corp now owns 54,332 shares of the company’s stock worth $2,595,000 after buying an additional 17,753 shares in the last quarter. Finally, Aviva PLC boosted its position in shares of CGI Group by 3.3% in the first quarter. Aviva PLC now owns 154,873 shares of the company’s stock worth $7,412,000 after buying an additional 4,936 shares in the last quarter. Hedge funds and other institutional investors own 71.70% of the company’s stock.
Shares of CGI Group (NYSE:GIB) opened at 48.02 on Friday. CGI Group has a 12-month low of $36.04 and a 12-month high of $50.58. The firm has a market capitalization of $14.54 billion, a P/E ratio of 19.34 and a beta of 0.91. The stock has a 50 day moving average of $48.19 and a 200-day moving average of $46.77.
CGI Group (NYSE:GIB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 company earned $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that CGI Group will post $2.64 EPS for the current fiscal year.
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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