CGI Group, Inc. (GIB) Given Average Rating of “Hold” by Brokerages
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has received an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $64.00.
A number of brokerages have recently commented on GIB. Zacks Investment Research cut shares of CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Finally, BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley increased its stake in CGI Group by 38.4% in the 1st 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 period. AXA increased its stake in CGI Group by 26.8% in the 2nd quarter. AXA now owns 160,472 shares of the technology company’s stock valued at $8,195,000 after buying an additional 33,943 shares during the period. CIBC Asset Management Inc increased its stake in CGI Group by 37.0% in the 2nd quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock valued at $103,953,000 after buying an additional 550,382 shares during the period. OxFORD Asset Management LLP increased its stake in CGI Group by 9.3% in the 2nd quarter. OxFORD Asset Management LLP now owns 47,214 shares of the technology company’s stock valued at $2,411,000 after buying an additional 4,010 shares during the period. Finally, FMR LLC increased its stake in CGI Group by 6.9% in the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after buying an additional 1,400,049 shares during the period. 62.83% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/11/cgi-group-inc-gib-given-average-rating-of-hold-by-brokerages.html.
CGI Group (GIB) traded up 0.49% during midday trading on Wednesday, reaching $52.86. 13,973 shares of the company’s stock traded hands. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 19.03 and a beta of 0.92. The firm’s 50-day moving average is $51.35 and its 200-day moving average is $50.10. CGI Group has a 1-year low of $45.73 and a 1-year high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced 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). The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. Analysts forecast that CGI Group will post $2.92 earnings per share for the current year.
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.