National Bank Financial Equities Analysts Reduce Earnings Estimates for CGI Group, Inc. (NYSE:GIB)
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Equities research analysts at National Bank Financial dropped their FY2017 EPS estimates for CGI Group in a report issued on Wednesday. National Bank Financial analyst R. Tse now expects that the technology company will earn $2.93 per share for the year, down from their prior forecast of $2.96. National Bank Financial also issued estimates for CGI Group’s Q4 2017 earnings at $0.74 EPS.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised 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. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Beacon Securities reaffirmed a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $61.00.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by $0.01. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the firm earned $0.89 earnings per share. CGI Group’s revenue for the quarter was up 6.4% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in CGI Group by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 634,725 shares of the technology company’s stock valued at $30,498,000 after buying an additional 12,257 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in CGI Group by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 72,115 shares of the technology company’s stock valued at $3,450,000 after buying an additional 1,100 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in CGI Group by 2.9% in the first quarter. Regentatlantic Capital LLC now owns 60,006 shares of the technology company’s stock valued at $2,876,000 after buying an additional 1,680 shares in the last quarter. AMF Pensionsforsakring AB boosted its stake in CGI Group by 24.8% in the first quarter. AMF Pensionsforsakring AB now owns 175,316 shares of the technology company’s stock valued at $8,376,000 after buying an additional 34,826 shares in the last quarter. Finally, Cumberland Partners Ltd bought a new stake in CGI Group during the first quarter valued at about $8,914,000. 63.36% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for CGI Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.