CGI Group, Inc. (NYSE:GIB) Receives Average Rating of "Buy" from Analysts

Shares of CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A have received an average recommendation of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $156.75.

Separately, Royal Bank Of Canada restated an "outperform" rating and issued a $192.00 target price on shares of CGI Group in a research report on Wednesday, March 26th.

CGI Group Stock Performance

NYSE GIB opened at $106.03 on Tuesday. The company has a market cap of $23.79 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. The stock's 50 day simple moving average is $106.72 and its 200-day simple moving average is $107.99. CGI Group has a 1-year low of $92.85 and a 1-year high of $122.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.97 EPS. As a group, equities research analysts anticipate that CGI Group will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were issued a $0.1086 dividend. This represents a $0.43 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is currently 7.83%.

Institutional Investors Weigh In On CGI Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in CGI Group by 10.1% during the first quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company's stock worth $813,792,000 after acquiring an additional 747,918 shares during the last quarter. Vanguard Group Inc. increased its stake in CGI Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock worth $802,338,000 after acquiring an additional 94,266 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in CGI Group by 22.5% during the first quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock worth $491,725,000 after acquiring an additional 907,876 shares during the last quarter. Mackenzie Financial Corp increased its stake in CGI Group by 0.9% during the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after acquiring an additional 41,631 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in CGI Group by 2.1% during the first quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after acquiring an additional 89,458 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

About CGI Group

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.