CGI (GIB) Given Buy Rating at Desjardins

Desjardins reissued their buy rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note released on Friday morning. Desjardins also issued estimates for CGI’s Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $0.91 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $0.93 EPS and FY2020 earnings at $4.10 EPS.

Several other research analysts have also recently weighed in on GIB. Scotiabank cut shares of CGI from an outperform rating to a sector perform rating in a research report on Tuesday, July 17th. Barclays upped their price objective on shares of CGI from $64.00 to $68.00 and gave the stock an overweight rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of CGI from a sell rating to a hold rating in a research report on Tuesday, August 7th. Raymond James restated a buy rating on shares of CGI in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of CGI from $92.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CGI has a consensus rating of Buy and an average price target of $77.67.

Shares of GIB traded down $0.54 during midday trading on Friday, hitting $61.91. 174,254 shares of the company traded hands, compared to its average volume of 249,871. CGI has a one year low of $52.54 and a one year high of $66.53. The stock has a market cap of $17.46 billion, a PE ratio of 19.29, a P/E/G ratio of 1.96 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. CGI had a return on equity of 17.92% and a net margin of 9.92%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Analysts expect that CGI will post 3.53 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of CGI by 206.9% in the second quarter. Janus Henderson Group PLC now owns 226,912 shares of the technology company’s stock worth $14,375,000 after purchasing an additional 152,987 shares during the last quarter. AE Wealth Management LLC purchased a new stake in CGI in the second quarter worth approximately $268,000. Bridgewater Associates LP boosted its stake in CGI by 200.0% in the second quarter. Bridgewater Associates LP now owns 113,786 shares of the technology company’s stock worth $7,206,000 after buying an additional 75,863 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in CGI by 12.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,446,700 shares of the technology company’s stock worth $120,525,000 after buying an additional 156,200 shares in the last quarter. Finally, Natixis boosted its stake in CGI by 80.7% in the second quarter. Natixis now owns 42,630 shares of the technology company’s stock worth $2,699,000 after buying an additional 19,034 shares in the last quarter. Institutional investors own 58.78% of the company’s stock.

CGI Company Profile

CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.

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Analyst Recommendations for CGI (NYSE:GIB)

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