CGI Group Inc. (GIB) Given Consensus Rating of “Buy” by Analysts
Shares of CGI Group Inc. (NYSE:GIB) (TSE:GIB.A) have been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.83.
GIB has been the topic of several recent research reports. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Macquarie initiated coverage on shares of CGI Group in a research report on Tuesday, September 27th. They issued a “neutral” rating and a $50.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a research report on Monday, August 15th. Barclays PLC lifted their price objective 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. Finally, Societe Generale downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th.
Shares of CGI Group (NYSE:GIB) opened at 47.66 on Friday. The stock has a market cap of $14.47 billion, a P/E ratio of 18.53 and a beta of 0.94. CGI Group has a one year low of $36.04 and a one year high of $50.58. The firm has a 50 day moving average of $47.61 and a 200 day moving average of $46.73.
CGI Group (NYSE:GIB) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.22. The firm 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%. CGI Group’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. On average, equities research analysts predict that CGI Group will post $2.79 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Invictus RG acquired a new position in shares of CGI Group during the first quarter valued at about $125,000. HBK Investments L P increased its position in CGI Group by 29.1% in the first quarter. HBK Investments L P now owns 30,070 shares of the company’s stock valued at $1,437,000 after buying an additional 6,770 shares during the period. Lingohr & Partner Asset Management GmbH purchased a new position in CGI Group during the second quarter valued at $1,815,000. GaveKal Capital LLC increased its position in CGI Group by 19.9% in the second quarter. GaveKal Capital LLC now owns 287,698 shares of the company’s stock valued at $12,226,000 after buying an additional 47,678 shares during the period. Finally, Acadian Asset Management LLC increased its position 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 period. 71.41% of the stock is currently owned by 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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