CGI Group Inc (GIB) Given Average Recommendation of “Buy” by Analysts

CGI Group Inc (NYSE:GIB) (TSE:GIB.A) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $71.00.

GIB has been the topic of several research reports. Scotiabank boosted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Barclays boosted their price target on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, February 5th. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $85.00 price target (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th.

Shares of CGI Group (NYSE GIB) traded down $0.12 on Tuesday, reaching $58.86. The company had a trading volume of 242,374 shares, compared to its average volume of 264,049. CGI Group has a 1 year low of $45.81 and a 1 year high of $59.20. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $15,020.00, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. equities research analysts expect that CGI Group will post 3.36 earnings per share for the current fiscal year.

CGI Group announced that its board has authorized a share repurchase plan on Wednesday, January 31st that authorizes the company to buyback 20,590,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIB. Jarislowsky Fraser Ltd lifted its holdings in CGI Group by 19.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after buying an additional 1,366,578 shares in the last quarter. Guardian Capital LP raised its position in shares of CGI Group by 1.9% during the third quarter. Guardian Capital LP now owns 3,369,589 shares of the technology company’s stock valued at $174,262,000 after buying an additional 64,252 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of CGI Group by 58.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock valued at $180,133,000 after buying an additional 1,219,578 shares during the last quarter. TD Asset Management Inc. raised its position in shares of CGI Group by 19.5% during the third quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock valued at $165,217,000 after buying an additional 520,675 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of CGI Group by 13.2% during the third quarter. Great West Life Assurance Co. Can now owns 2,857,687 shares of the technology company’s stock valued at $147,850,000 after buying an additional 333,856 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://stocknewstimes.com/2018/02/18/cgi-group-inc-gib-given-average-recommendation-of-buy-by-analysts.html.

CGI Group Company Profile

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply