CGI Group, Inc. (GIB) Forecasted to Post FY2018 Earnings of $3.18 Per Share
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at National Bank Financial increased their FY2018 earnings estimates for CGI Group in a research note issued on Wednesday. National Bank Financial analyst R. Tse now forecasts that the technology company will earn $3.18 per share for the year, up from their previous forecast of $3.16.
A number of other equities analysts have also weighed in on the company. Beacon Securities reaffirmed a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. Zacks Investment Research raised CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a research report on Friday, July 21st. BidaskClub raised CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CGI Group in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. CGI Group currently has a consensus rating of “Buy” and an average price target of $61.00.
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Shares of CGI Group (NYSE GIB) traded down 0.04% during trading on Friday, hitting $51.45. 138,630 shares of the stock traded hands. The firm has a market cap of $15.25 billion, a P/E ratio of 18.20 and a beta of 0.93. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65. The company has a 50-day moving average of $51.60 and a 200-day moving average of $48.95.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.01. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.18% and a net margin of 10.18%. CGI Group’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share.
A number of large investors have recently made changes to their positions in GIB. Jarislowsky Fraser Ltd increased its stake in shares of CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock valued at $352,623,000 after buying an additional 1,304,144 shares during the period. CIBC Asset Management Inc increased its stake in shares of CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock valued at $103,953,000 after buying an additional 550,382 shares during the period. Renaissance Technologies LLC increased its stake in shares of CGI Group by 470.6% in the first quarter. Renaissance Technologies LLC now owns 248,800 shares of the technology company’s stock valued at $11,929,000 after buying an additional 205,200 shares during the period. AGF Investments Inc. increased its stake in shares of CGI Group by 28.6% in the first quarter. AGF Investments Inc. now owns 917,379 shares of the technology company’s stock valued at $43,905,000 after buying an additional 203,800 shares during the period. Finally, Cumberland Partners Ltd bought a new stake in shares of CGI Group during the first quarter valued at about $8,914,000. Institutional investors and hedge funds own 63.06% of the company’s stock.
About CGI Group
CGI Group Inc (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company’s services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions.
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