CGI Group, Inc. (NYSE:GIB) Receives Average Recommendation of “Hold” from Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $117.00.

A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce cut CGI Group from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Securities upgraded CGI Group to a “strong-buy” rating in a research report on Wednesday, January 28th. Scotiabank initiated coverage on CGI Group in a research note on Tuesday, January 27th. They set a “sector perform” rating on the stock. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th.

CGI Group Stock Up 2.1%

CGI Group stock opened at $72.52 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.70 and a current ratio of 0.94. CGI Group has a one year low of $69.96 and a one year high of $110.07. The company has a 50-day simple moving average of $77.02 and a 200-day simple moving average of $85.47. The firm has a market capitalization of $15.57 billion, a P/E ratio of 13.58 and a beta of 0.63.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 28th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that CGI Group will post 5.79 earnings per share for the current year.

CGI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, February 18th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 18th. CGI Group’s dividend payout ratio (DPR) is currently 9.36%.

Institutional Investors Weigh In On CGI Group

A number of institutional investors have recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd boosted its stake in CGI Group by 35.1% during the third quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock valued at $5,972,000 after buying an additional 17,448 shares in the last quarter. Kepler Cheuvreux Suisse SA bought a new stake in CGI Group in the third quarter worth about $6,498,000. Beutel Goodman & Co Ltd. lifted its holdings in CGI Group by 13.0% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock valued at $361,881,000 after acquiring an additional 397,005 shares during the last quarter. Syon Capital LLC lifted its holdings in CGI Group by 69.7% in the 3rd quarter. Syon Capital LLC now owns 4,260 shares of the technology company’s stock valued at $380,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Rossby Financial LCC boosted its position in shares of CGI Group by 49,840.0% during the 3rd quarter. Rossby Financial LCC now owns 4,994 shares of the technology company’s stock valued at $449,000 after purchasing an additional 4,984 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.