CGI Group Inc. Forecasted to Post Q1 2017 Earnings of $0.69 Per Share (GIB)
CGI Group Inc. (NYSE:GIB) – Research analysts at Raymond James Financial issued their Q1 2017 earnings estimates for CGI Group in a report issued on Thursday. Raymond James Financial analyst S. Li expects that the firm will post earnings of $0.69 per share for the quarter. Raymond James Financial also issued estimates for CGI Group’s Q2 2017 earnings at $0.71 EPS, Q3 2017 earnings at $0.72 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.82 EPS and FY2018 earnings at $2.98 EPS.
CGI Group (NYSE:GIB) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.22. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $1.95 billion. CGI Group had a net margin of 10.01% and a return on equity of 17.31%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share.
A number of other equities analysts also recently commented on GIB. Zacks Investment Research downgraded shares of CGI Group from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Barclays PLC upped their price objective on shares of CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Jefferies Group upped their price objective on shares of CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a report on Monday, August 1st. Canaccord Genuity restated a “buy” rating on shares of CGI Group in a report on Monday, August 15th. Finally, Macquarie assumed coverage on shares of CGI Group in a report on Tuesday, September 27th. They set a “neutral” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. CGI Group has an average rating of “Buy” and an average price target of $52.86.
CGI Group (NYSE:GIB) opened at 48.50 on Friday. The company has a 50 day moving average of $47.63 and a 200-day moving average of $46.72. CGI Group has a 12-month low of $36.04 and a 12-month high of $50.58. The stock has a market cap of $14.64 billion, a P/E ratio of 19.00 and a beta of 0.94.
A number of large investors have recently added to or reduced their stakes in GIB. EULAV Asset Management raised its stake in CGI Group by 34.2% in the third quarter. EULAV Asset Management now owns 19,600 shares of the company’s stock valued at $934,000 after buying an additional 5,000 shares in the last quarter. Acrospire Investment Management LLC raised its stake in CGI Group by 597.4% in the third quarter. Acrospire Investment Management LLC now owns 2,434 shares of the company’s stock valued at $116,000 after buying an additional 2,085 shares in the last quarter. Korea Investment CORP raised its stake in CGI Group by 19.3% in the third quarter. Korea Investment CORP now owns 184,100 shares of the company’s stock valued at $8,754,000 after buying an additional 29,800 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in CGI Group by 220.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 328,824 shares of the company’s stock valued at $15,741,000 after buying an additional 226,189 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. bought a new stake in CGI Group during the third quarter valued at approximately $876,000. Institutional investors and hedge funds own 71.59% of the company’s stock.
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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