CGI Group, Inc. (GIB) Receives $61.00 Average Target Price from Analysts
Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $61.00.
A number of equities research analysts have commented on GIB shares. Beacon Securities restated a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd.
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Shares of CGI Group (NYSE GIB) traded up 0.10% on Tuesday, hitting $49.94. 120,844 shares of the company’s stock were exchanged. The firm has a market cap of $14.75 billion, a P/E ratio of 17.62 and a beta of 0.93. CGI Group has a 12 month low of $45.73 and a 12 month high of $53.65. The stock’s 50 day moving average is $51.35 and its 200 day moving average is $49.15.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. On average, equities analysts predict that CGI Group will post $2.92 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of GIB. Scotia Capital Inc. raised its stake in shares of CGI Group by 5.0% in the second quarter. Scotia Capital Inc. now owns 211,524 shares of the technology company’s stock worth $10,776,000 after buying an additional 10,108 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of CGI Group by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 2,236,931 shares of the technology company’s stock worth $114,093,000 after buying an additional 104,916 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of CGI Group by 44.4% in the second quarter. Cubist Systematic Strategies LLC now owns 8,855 shares of the technology company’s stock worth $452,000 after buying an additional 2,721 shares in the last quarter. State Street Corp bought a new stake in shares of CGI Group during the second quarter worth about $684,000. Finally, Lenox Wealth Management Inc. bought a new stake in shares of CGI Group during the second quarter worth about $1,035,000. 71.50% of the stock is owned by institutional investors.
CGI Group Company Profile
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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