Brokers Set Expectations for CGI Group, Inc.’s FY2020 Earnings (NYSE:GIB)
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at Cormark issued their FY2020 earnings per share estimates for CGI Group in a report released on Wednesday. Cormark analyst R. Peters expects that the technology company will post earnings of $3.56 per share for the year.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.74 billion. CGI Group had a return on equity of 17.38% and a net margin of 10.31%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/20/brokers-set-expectations-for-cgi-group-inc-s-fy2020-earnings-nysegib.html.
Several other research firms also recently weighed in on GIB. Zacks Investment Research downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Beacon Securities reiterated a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.00.
Shares of CGI Group (GIB) traded up 0.27% during mid-day trading on Thursday, hitting $52.37. The company had a trading volume of 75,662 shares. CGI Group has a 12 month low of $44.19 and a 12 month high of $53.08. The firm has a 50-day moving average of $50.88 and a 200-day moving average of $48.71. The company has a market cap of $15.52 billion, a PE ratio of 18.75 and a beta of 0.92.
Institutional investors have recently added to or reduced their stakes in the company. Jarislowsky Fraser Ltd increased its position in CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after buying an additional 1,304,144 shares during the period. Renaissance Technologies LLC increased its position in CGI Group by 470.6% in the first quarter. Renaissance Technologies LLC now owns 248,800 shares of the technology company’s stock worth $11,929,000 after buying an additional 205,200 shares during the period. AGF Investments Inc. increased its position in CGI Group by 28.6% in the first quarter. AGF Investments Inc. now owns 917,379 shares of the technology company’s stock worth $43,905,000 after buying an additional 203,800 shares during the period. Cumberland Partners Ltd purchased a new position in CGI Group during the first quarter worth approximately $8,914,000. Finally, Morgan Stanley increased its position in CGI Group by 38.4% in the first quarter. Morgan Stanley now owns 596,523 shares of the technology company’s stock worth $28,592,000 after buying an additional 165,506 shares during the period. Institutional investors own 62.90% 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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