CGI Group (NYSE:GIB) Sets New 52-Week Low – What’s Next?

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $59.90 and last traded at $61.12, with a volume of 101388 shares traded. The stock had previously closed at $66.07.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank Of Canada lowered CGI Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. Weiss Ratings cut shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Finally, UBS Group reduced their price target on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.67.

CGI Group Trading Down 9.4%

The business has a 50 day simple moving average of $68.79 and a 200 day simple moving average of $77.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 10.80 and a beta of 0.47.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.65. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 earnings per share. As a group, equities analysts forecast that CGI Group, Inc. will post 6.54 EPS for the current year.

CGI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. CGI Group’s payout ratio is currently 9.03%.

Institutional Trading of CGI Group

Several hedge funds have recently modified their holdings of GIB. Kepler Cheuvreux Suisse SA acquired a new position in shares of CGI Group during the third quarter valued at $6,498,000. Venturi Wealth Management LLC acquired a new stake in CGI Group during the 1st quarter worth approximately $204,000. SG Americas Securities LLC bought a new stake in CGI Group in the 1st quarter valued at $470,000. EverSource Wealth Advisors LLC lifted its holdings in shares of CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in CGI Group in the 3rd quarter valued at approximately $236,000. 66.68% of the stock is owned by institutional investors.

About CGI Group

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.