CGI (GIB) Coverage Initiated at Bank of America

Share on StockTwits

Bank of America started coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $83.00 price objective on the technology company’s stock.

GIB has been the subject of a number of other reports. CIBC lowered shares of CGI from a sector outperform rating to a neutral rating in a report on Thursday, April 25th. Zacks Investment Research raised shares of CGI from a hold rating to a buy rating and set a $74.00 price target for the company in a report on Friday, February 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $80.00.

GIB opened at $73.07 on Thursday. The firm has a market cap of $20.04 billion, a P/E ratio of 22.76, a PEG ratio of 2.30 and a beta of 0.57. CGI has a twelve month low of $57.35 and a twelve month high of $73.84. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.28. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.06 billion. CGI had a net margin of 10.29% and a return on equity of 18.34%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. Equities analysts forecast that CGI will post 3.55 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in CGI by 59.0% during the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after acquiring an additional 213 shares in the last quarter. Cigna Investments Inc. New grew its holdings in CGI by 6.7% during the 4th quarter. Cigna Investments Inc. New now owns 3,617 shares of the technology company’s stock worth $222,000 after acquiring an additional 227 shares in the last quarter. US Bancorp DE grew its holdings in CGI by 7.1% during the 1st quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after acquiring an additional 274 shares in the last quarter. Csenge Advisory Group grew its holdings in CGI by 9.7% during the 1st quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock worth $255,000 after acquiring an additional 327 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in CGI during the 1st quarter worth $25,000. 56.79% of the stock is owned by institutional investors.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

Recommended Story: Trading based on a resistance level

Analyst Recommendations for CGI (NYSE:GIB)

Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

China Shenhua Energy –  to Issue $0.42 Annual Dividend
China Shenhua Energy – to Issue $0.42 Annual Dividend
Wall Financial Co.  Plans Dividend Increase – $2.00 Per Share
Wall Financial Co. Plans Dividend Increase – $2.00 Per Share
Guaranty Bancshares, Inc.  Declares Quarterly Dividend of $0.17
Guaranty Bancshares, Inc. Declares Quarterly Dividend of $0.17
Bancolombia SA  To Go Ex-Dividend on June 26th
Bancolombia SA To Go Ex-Dividend on June 26th
Vail Resorts, Inc.  Announces $1.76 Quarterly Dividend
Vail Resorts, Inc. Announces $1.76 Quarterly Dividend
Dynex Capital Inc Announces Monthly Dividend of $0.18
Dynex Capital Inc Announces Monthly Dividend of $0.18


© 2006-2019 Ticker Report