CGI Group Price Target Cut to $34.00 (GIB)
Equities researchers at Jefferies Group reduced their target price on shares of CGI Group (NYSE:GIB) from $40.00 to $34.00 in a research report issued on Monday, ARN reports. Jefferies Group’s price target points to a potential upside of 13.14% from the stock’s previous close.
A number of other firms have also recently commented on GIB. Analysts at Societe Generale upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research note to investors on Thursday. Separately, analysts at TD Securities upgraded shares of CGI Group to a “buy” rating in a research note to investors on Thursday. Finally, analysts at Deutsche Bank reiterated a “sell” rating on shares of CGI Group in a research note to investors on Thursday, January 23rd. They now have a $24.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. CGI Group has a consensus rating of “Buy” and an average target price of $33.88.
Shares of CGI Group (NYSE:GIB) traded down 1.93% during mid-day trading on Monday, hitting $30.05. 987,302 shares of the company’s stock traded hands. CGI Group has a one year low of $25.33 and a one year high of $39.47. The stock has a 50-day moving average of $32.6 and a 200-day moving average of $34.0. The company has a market cap of $9.199 billion and a price-to-earnings ratio of 15.23.
CGI Group (NYSE:GIB) last released its earnings data on Wednesday, January 29th. The company reported $0.65 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.05. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the company posted $0.44 earnings per share. CGI Group’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that CGI Group will post $2.80 EPS for the current fiscal year.
CGI Group Inc (NYSE:GIB) is an independent provider of end-to-end information technology (IT) services and business process services (BPS) to clients globally.
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