CGI Group (GIB) Posts Quarterly Earnings, Misses Expectations By $0.01 EPS
CGI Group (NYSE:GIB) issued its quarterly earnings data on Wednesday. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.73 by $0.01, American Banking News reports. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis.
GIB has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of CGI Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 22nd. They now have a $39.10 price target on the stock. On the ratings front, analysts at RBC Capital reiterated an “outperform” rating on shares of CGI Group in a research note on Tuesday, July 22nd. They now have a $47.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of CGI Group in a research note on Friday, July 11th. They set an “outperform” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. CGI Group has an average rating of “Buy” and a consensus target price of $44.19.
CGI Group (NYSE:GIB) traded up 2.06% during mid-day trading on Wednesday, hitting $36.16. The stock had a trading volume of 68,693 shares. CGI Group has a 52-week low of $29.40 and a 52-week high of $39.47. The stock has a 50-day moving average of $34.99 and a 200-day moving average of $33.11. The company has a market cap of $11.125 billion and a price-to-earnings ratio of 16.46.
CGI Group Inc (NYSE:GIB) provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions.
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