CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) released its earnings results on Wednesday. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.21. CGI Group had a net margin of 10.01% and a return on equity of 17.31%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis.
Shares of CGI Group (NYSE:GIB) opened at 48.09 on Wednesday. The firm has a market cap of $14.60 billion, a P/E ratio of 18.43 and a beta of 0.89. CGI Group has a 52-week low of $39.37 and a 52-week high of $50.58. The stock’s 50 day moving average is $48.36 and its 200-day moving average is $47.89.
Several large investors have recently added to or reduced their stakes in GIB. US Bancorp DE raised its stake in CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock worth $107,000 after buying an additional 799 shares in the last quarter. Advisor Group Inc. acquired a new stake in CGI Group during the second quarter worth approximately $252,000. Price T Rowe Associates Inc. MD raised its stake in CGI Group by 8.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,480 shares of the company’s stock worth $356,000 after buying an additional 582 shares in the last quarter. LPL Financial LLC acquired a new stake in CGI Group during the third quarter worth approximately $361,000. Finally, United Services Automobile Association acquired a new stake in CGI Group during the third quarter worth approximately $373,000. 71.50% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Societe Generale cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Tuesday. National Bank Financial restated an “outperform overweight” rating on shares of CGI Group in a report on Sunday. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 20th. Dundee Securities raised their price target on shares of CGI Group from $68.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 10th. Finally, Canaccord Genuity restated a “buy” rating on shares of CGI Group in a report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. CGI Group currently has a consensus rating of “Hold” and an average target price of $50.33.
About CGI Group
CGI Group Inc (CGI), through its subsidiaries, manages information technology (IT) services and business process services (BPS). The Company’s segments are United States of America (U.S.); Nordics; Canada; France (including Luxembourg and Morocco) (France); United Kingdom (U.K.); Eastern, Central and Southern Europe (primarily Netherlands and Germany) (ECS), and Asia Pacific (including Australia, India and the Philippines) (Asia Pacific).