Q4 2017 EPS Estimates for CGI Group, Inc. (GIB) Boosted by Cormark
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Cormark lifted their Q4 2017 EPS estimates for shares of CGI Group in a research note issued on Monday. Cormark analyst R. Peters now forecasts that the technology company will post earnings of $0.80 per share for the quarter, up from their prior estimate of $0.77.
GIB has been the topic of a number of other research reports. Zacks Investment Research downgraded CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $60.00 target price (up previously from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $61.00.
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Shares of CGI Group (NYSE:GIB) opened at 51.96 on Wednesday. The stock’s 50 day moving average is $50.80 and its 200-day moving average is $49.58. The stock has a market capitalization of $15.34 billion, a P/E ratio of 18.06 and a beta of 0.92. CGI Group has a one year low of $45.73 and a one year 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 analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share.
Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the last quarter. Advisor Group Inc. increased its holdings in CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after buying an additional 380 shares during the last quarter. Quantbot Technologies LP acquired a new position in CGI Group in the first quarter worth approximately $173,000. Quantitative Systematic Strategies LLC acquired a new position in CGI Group in the second quarter worth approximately $202,000. Finally, Letko Brosseau & Associates Inc. acquired a new position in CGI Group in the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.
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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