CGI Group, Inc. (NYSE:GIB) Given Consensus Rating of “Hold” by Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $117.00.

Several research analysts have weighed in on GIB shares. TD Securities upgraded CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce cut shares of CGI Group from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Scotiabank started coverage on shares of CGI Group in a report on Tuesday, January 27th. They set a “sector perform” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research report on Monday, December 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th.

CGI Group Stock Performance

Shares of NYSE:GIB opened at $72.31 on Thursday. The firm’s 50 day simple moving average is $78.22 and its 200 day simple moving average is $86.01. CGI Group has a fifty-two week low of $69.96 and a fifty-two week high of $110.07. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 13.54 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.70.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, February 18th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 18th. CGI Group’s payout ratio is 9.18%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. First Horizon Corp acquired a new stake in CGI Group in the 3rd quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new position in CGI Group during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its position in CGI Group by 53.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after acquiring an additional 505 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of CGI Group by 14.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock worth $425,000 after acquiring an additional 572 shares in the last quarter. Finally, Ethic Inc. raised its holdings in shares of CGI Group by 13.4% in the fourth quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock valued at $905,000 after purchasing an additional 1,158 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.