Analysts at Macquarie began coverage on shares of CGI Group Inc. (NYSE:GIB) in a research note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $50.00 price target on the stock. Macquarie’s price target would suggest a potential upside of 3.50% from the stock’s current price.
A number of other research firms have also weighed in on GIB. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, June 28th. Barclays PLC upped their target price on shares of CGI Group from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Jefferies Group upped their target price on shares of CGI Group from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, August 1st. Finally, Canaccord Genuity restated a “buy” rating on shares of CGI Group in a research note on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. CGI Group currently has a consensus rating of “Buy” and an average target price of $49.33.
Shares of CGI Group (NYSE:GIB) opened at 48.31 on Tuesday. CGI Group has a 12-month low of $35.38 and a 12-month high of $50.58. The stock has a 50 day moving average of $48.39 and a 200-day moving average of $46.61. The company has a market capitalization of $14.62 billion, a PE ratio of 19.57 and a beta of 0.93.
CGI Group (NYSE:GIB) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.67 billion. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Analysts predict that CGI Group will post $2.63 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Apex Capital Management increased its stake in CGI Group by 52.3% in the first quarter. Apex Capital Management now owns 21,695 shares of the company’s stock valued at $1,037,000 after buying an additional 7,449 shares during the last quarter. Virginia Retirement System purchased a new stake in CGI Group during the first quarter valued at $7,702,000. Addenda Capital Inc. increased its stake in CGI Group by 0.9% in the first quarter. Addenda Capital Inc. now owns 413,580 shares of the company’s stock valued at $19,847,000 after buying an additional 3,680 shares during the last quarter. CIBC World Markets Inc. increased its stake in CGI Group by 2.8% in the first quarter. CIBC World Markets Inc. now owns 4,315,185 shares of the company’s stock valued at $206,180,000 after buying an additional 118,230 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in CGI Group by 7.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 33,518 shares of the company’s stock valued at $1,601,000 after buying an additional 2,426 shares during the last quarter. 71.70% of the stock is owned by hedge funds and other institutional investors.
CGI Group Company Profile
CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.
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.