CGI Group Inc. Forecasted to Post Q1 2017 Earnings of $0.67 Per Share (GIB)
CGI Group Inc. (NYSE:GIB) (TSE:GIB.A) – National Bank Financial issued their Q1 2017 earnings per share estimates for shares of CGI Group in a report issued on Sunday. National Bank Financial analyst R. Tse anticipates that the firm will post earnings per share of $0.67 for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for CGI Group’s Q2 2017 earnings at $0.68 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.75 EPS, FY2017 earnings at $2.81 EPS and FY2018 earnings at $2.96 EPS.
A number of other brokerages also recently issued reports on GIB. Societe Generale downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Dundee Securities lifted their price target on CGI Group from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 10th. Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a research report on Monday, August 15th. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Finally, Jefferies Group lifted their price target on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Monday, August 1st. 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.86.
CGI Group (NYSE:GIB) opened at 47.39 on Wednesday. The firm has a market cap of $14.39 billion, a P/E ratio of 18.69 and a beta of 0.94. CGI Group has a 1-year low of $36.04 and a 1-year high of $50.58. The stock has a 50 day moving average price of $47.57 and a 200 day moving average price of $46.74.
CGI Group (NYSE:GIB) last posted its earnings results on Wednesday, November 9th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.22. The firm earned $2.58 billion during the quarter, compared to analysts’ expectations of $1.95 billion. CGI Group had a net margin of 10.01% and a return on equity of 17.31%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in shares of CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock valued at $103,000 after buying an additional 1,825 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of CGI Group by 57.2% in the third quarter. Quantbot Technologies LP now owns 2,221 shares of the company’s stock valued at $105,000 after buying an additional 808 shares during the last quarter. US Bancorp DE increased its stake in shares of CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock valued at $107,000 after buying an additional 799 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of 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 during the last quarter. Finally, Invictus RG bought a new stake in shares of CGI Group during the first quarter valued at $125,000. Hedge funds and other institutional investors own 71.41% 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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