CGI Group, Inc. to Post FY2017 Earnings of $2.92 Per Share, Desjardins Forecasts (NYSE:GIB)
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at Desjardins increased their FY2017 EPS estimates for shares of CGI Group in a report issued on Wednesday. Desjardins analyst M. Yaghi now expects that the technology company will post earnings per share of $2.92 for the year, up from their prior estimate of $2.75. Desjardins also issued estimates for CGI Group’s Q4 2017 earnings at $0.74 EPS and FY2018 earnings at $3.31 EPS.
A number of other brokerages also recently issued reports on GIB. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research note 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 note on Tuesday, July 4th. Finally, Beacon Securities reiterated a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $57.00.
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Shares of CGI Group (NYSE GIB) traded up 0.02% during trading on Friday, hitting $52.41. 32,075 shares of the company’s stock were exchanged. CGI Group has a 1-year low of $44.19 and a 1-year high of $53.08. The stock has a market cap of $15.53 billion, a PE ratio of 18.76 and a beta of 0.92. The stock’s 50-day moving average price is $50.96 and its 200-day moving average price is $48.73.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, May 3rd. The technology company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.01. CGI Group had a return on equity of 17.38% and a net margin of 10.31%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue was down .9% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the period. Quantbot Technologies LP bought a new position in CGI Group during the first quarter worth approximately $173,000. Campbell & CO Investment Adviser LLC bought a new position in CGI Group during the first quarter worth approximately $205,000. HighTower Advisors LLC bought a new position in CGI Group during the first quarter worth approximately $289,000. Finally, Paloma Partners Management Co bought a new position in CGI Group during the first quarter worth approximately $320,000. 62.90% of the stock is owned by hedge funds and other 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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