CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Equities researchers at Cormark boosted their FY2019 earnings estimates for shares of CGI Group in a research report issued on Thursday. Cormark analyst R. Peters now forecasts that the technology company will earn $3.50 per share for the year, up from their prior estimate of $3.49.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday. BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Barclays PLC reissued an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. CGI Group presently has an average rating of “Hold” and a consensus price target of $64.00.

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Shares of CGI Group (GIB) traded up 0.48% during midday trading on Friday, reaching $52.37. 60,852 shares of the company’s stock traded hands. The stock has a market cap of $15.46 billion, a P/E ratio of 17.68 and a beta of 0.92. The stock has a 50 day moving average of $51.13 and a 200-day moving average of $49.94. CGI Group has a 12 month low of $45.73 and a 12 month high of $53.65.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results 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 return on equity of 17.10% and a net margin of 10.18%. The business 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 firm earned $0.89 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of CGI Group by 6.9% during the second quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after purchasing an additional 1,400,049 shares in the last quarter. Jarislowsky Fraser Ltd raised 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 acquiring an additional 1,304,144 shares during the period. Vanguard Group Inc. raised its position in CGI Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock worth $289,794,000 after acquiring an additional 306,352 shares during the period. TD Asset Management Inc. raised its position in CGI Group by 5.6% in the second quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock worth $136,408,000 after acquiring an additional 141,003 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in CGI Group by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock worth $128,583,000 after acquiring an additional 77,377 shares during the period. 70.69% 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.

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

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