CGI Group (GIB) to Buyback 20,590,000 Outstanding Stock
CGI Group (NYSE:GIB) (TSE:GIB.A) announced that its Board of Directors has approved a share repurchase plan, which permits the company to repurchase 20,590,000 shares on Wednesday, January 31st, EventVestor reports. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Shares of CGI Group (NYSE:GIB) opened at $56.27 on Tuesday. CGI Group has a 12-month low of $45.81 and a 12-month high of $58.93. The company has a market capitalization of $14,320.00, a PE ratio of 19.95, a P/E/G ratio of 1.92 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.70.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. equities analysts anticipate that CGI Group will post 3.32 earnings per share for the current fiscal year.
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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.
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