FY2017 EPS Estimates for CGI Group, Inc. (GIB) Lowered by Analyst

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Stock analysts at Desjardins lowered their FY2017 earnings estimates for shares of CGI Group in a report issued on Wednesday. Desjardins analyst M. Yaghi now anticipates that the technology company will post earnings per share of $2.85 for the year, down from their prior forecast of $2.89.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Barclays PLC restated an “overweight” rating and issued a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $64.00.

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Shares of CGI Group (NYSE:GIB) opened at $53.25 on Thursday. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.14.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $0.89 EPS. CGI Group’s revenue for the quarter was up 6.4% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of CGI Group by 6.9% during the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after acquiring an additional 1,400,049 shares during the period. Jarislowsky Fraser Ltd lifted its position in shares of CGI Group by 23.3% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock valued at $352,623,000 after acquiring an additional 1,304,144 shares during the period. Vanguard Group Inc. lifted its position in shares of CGI Group by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock valued at $289,794,000 after acquiring an additional 306,352 shares during the period. TD Asset Management Inc. lifted its position in shares of CGI Group by 5.6% during the 2nd quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock valued at $136,408,000 after acquiring an additional 141,003 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of CGI Group by 3.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock valued at $128,583,000 after acquiring an additional 77,377 shares during the period. Institutional investors own 62.64% 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.

Earnings History and Estimates for CGI Group (NYSE:GIB)

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