CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at Desjardins cut their FY2017 earnings estimates for shares of CGI Group in a note issued to investors on Thursday. Desjardins analyst M. Yaghi now expects that the technology company will post earnings per share of $2.89 for the year, down from their prior estimate of $2.92. Desjardins also issued estimates for CGI Group’s Q4 2017 earnings at $0.70 EPS.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by $0.01. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “FY2017 Earnings Estimate for CGI Group, Inc. Issued By Desjardins (GIB)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/08/07/fy2017-earnings-estimate-for-cgi-group-inc-issued-by-desjardins-gib.html.

A number of other research firms have also weighed in on GIB. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC restated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a research report on Thursday. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Beacon Securities restated a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.00.

Institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised 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 valued at $28,592,000 after buying an additional 165,506 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in CGI Group by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 631,494 shares of the technology company’s stock valued at $30,248,000 after buying an additional 1,731 shares during the last quarter. World Asset Management Inc raised its position in CGI Group by 0.8% in the first quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock valued at $806,000 after buying an additional 134 shares during the last quarter. State of Wisconsin Investment Board raised its position in CGI Group by 0.5% in the first quarter. State of Wisconsin Investment Board now owns 203,114 shares of the technology company’s stock valued at $9,704,000 after buying an additional 1,100 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in CGI Group by 0.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,238,538 shares of the technology company’s stock valued at $59,363,000 after buying an additional 9,599 shares during the last quarter. Institutional investors own 63.36% 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.

Earnings History and Estimates for CGI Group (NYSE:GIB)

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