Intrinsic value of CGI Group Cl A - GIB

Previous Close

$61.59

  Intrinsic Value

$80.09

stock screener

  Rating & Target

buy

+30%

Previous close

$61.59

 
Intrinsic value

$80.09

 
Up/down potential

+30%

 
Rating

buy

We calculate the intrinsic value of GIB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 15.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
Revenue, $m
  9,265
  9,870
  10,499
  11,154
  11,836
  12,547
  13,288
  14,060
  14,866
  15,707
  16,586
  17,503
  18,463
  19,466
  20,515
  21,612
  22,761
  23,963
  25,223
  26,542
  27,924
  29,372
  30,890
  32,481
  34,149
  35,898
  37,732
  39,656
  41,674
  43,791
Variable operating expenses, $m
  7,899
  8,376
  8,871
  9,387
  9,924
  10,484
  11,067
  11,675
  12,310
  12,972
  13,059
  13,782
  14,537
  15,327
  16,153
  17,017
  17,921
  18,868
  19,860
  20,898
  21,986
  23,127
  24,322
  25,574
  26,888
  28,265
  29,709
  31,224
  32,813
  34,480
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,899
  8,376
  8,871
  9,387
  9,924
  10,484
  11,067
  11,675
  12,310
  12,972
  13,059
  13,782
  14,537
  15,327
  16,153
  17,017
  17,921
  18,868
  19,860
  20,898
  21,986
  23,127
  24,322
  25,574
  26,888
  28,265
  29,709
  31,224
  32,813
  34,480
Operating income, $m
  1,365
  1,494
  1,628
  1,767
  1,912
  2,063
  2,221
  2,385
  2,556
  2,735
  3,526
  3,722
  3,926
  4,139
  4,362
  4,595
  4,839
  5,095
  5,363
  5,643
  5,937
  6,245
  6,568
  6,906
  7,261
  7,633
  8,023
  8,432
  8,861
  9,311
EBITDA, $m
  2,139
  2,279
  2,424
  2,576
  2,733
  2,897
  3,068
  3,247
  3,433
  3,627
  3,830
  4,042
  4,263
  4,495
  4,737
  4,991
  5,256
  5,533
  5,824
  6,129
  6,448
  6,782
  7,133
  7,500
  7,885
  8,289
  8,713
  9,157
  9,623
  10,112
Interest expense (income), $m
  58
  81
  96
  111
  128
  144
  162
  180
  200
  220
  240
  262
  285
  309
  334
  359
  387
  415
  445
  476
  508
  542
  578
  616
  655
  696
  739
  784
  832
  882
  934
Earnings before tax, $m
  1,285
  1,398
  1,517
  1,640
  1,768
  1,901
  2,040
  2,185
  2,337
  2,495
  3,264
  3,437
  3,617
  3,805
  4,002
  4,209
  4,424
  4,650
  4,887
  5,135
  5,395
  5,667
  5,952
  6,251
  6,565
  6,893
  7,238
  7,600
  7,979
  8,377
Tax expense, $m
  347
  378
  409
  443
  477
  513
  551
  590
  631
  674
  881
  928
  977
  1,027
  1,081
  1,136
  1,195
  1,256
  1,320
  1,386
  1,457
  1,530
  1,607
  1,688
  1,772
  1,861
  1,954
  2,052
  2,154
  2,262
Net income, $m
  938
  1,021
  1,107
  1,197
  1,290
  1,388
  1,489
  1,595
  1,706
  1,821
  2,383
  2,509
  2,640
  2,778
  2,922
  3,072
  3,230
  3,395
  3,568
  3,749
  3,938
  4,137
  4,345
  4,563
  4,792
  5,032
  5,284
  5,548
  5,825
  6,115

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  9,732
  10,367
  11,029
  11,717
  12,433
  13,180
  13,958
  14,769
  15,616
  16,499
  17,422
  18,386
  19,394
  20,447
  21,549
  22,702
  23,908
  25,172
  26,494
  27,880
  29,332
  30,853
  32,447
  34,118
  35,870
  37,708
  39,634
  41,655
  43,775
  45,999
Adjusted assets (=assets-cash), $m
  9,732
  10,367
  11,029
  11,717
  12,433
  13,180
  13,958
  14,769
  15,616
  16,499
  17,422
  18,386
  19,394
  20,447
  21,549
  22,702
  23,908
  25,172
  26,494
  27,880
  29,332
  30,853
  32,447
  34,118
  35,870
  37,708
  39,634
  41,655
  43,775
  45,999
Revenue / Adjusted assets
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
  0.952
Average production assets, $m
  3,474
  3,701
  3,937
  4,183
  4,439
  4,705
  4,983
  5,273
  5,575
  5,890
  6,220
  6,564
  6,923
  7,300
  7,693
  8,105
  8,535
  8,986
  9,458
  9,953
  10,471
  11,014
  11,584
  12,180
  12,806
  13,462
  14,150
  14,871
  15,628
  16,422
Working capital, $m
  102
  109
  115
  123
  130
  138
  146
  155
  164
  173
  182
  193
  203
  214
  226
  238
  250
  264
  277
  292
  307
  323
  340
  357
  376
  395
  415
  436
  458
  482
Total debt, $m
  1,770
  2,060
  2,362
  2,675
  3,002
  3,342
  3,697
  4,067
  4,453
  4,856
  5,277
  5,717
  6,176
  6,656
  7,159
  7,685
  8,235
  8,811
  9,414
  10,046
  10,708
  11,401
  12,128
  12,891
  13,689
  14,527
  15,406
  16,327
  17,294
  18,308
Total liabilities, $m
  4,438
  4,728
  5,029
  5,343
  5,670
  6,010
  6,365
  6,735
  7,121
  7,524
  7,944
  8,384
  8,843
  9,324
  9,826
  10,352
  10,902
  11,478
  12,081
  12,713
  13,375
  14,069
  14,796
  15,558
  16,357
  17,195
  18,073
  18,995
  19,961
  20,976
Total equity, $m
  5,294
  5,640
  6,000
  6,374
  6,764
  7,170
  7,593
  8,034
  8,495
  8,976
  9,478
  10,002
  10,550
  11,123
  11,723
  12,350
  13,006
  13,693
  14,413
  15,167
  15,956
  16,784
  17,651
  18,560
  19,513
  20,513
  21,561
  22,661
  23,814
  25,023
Total liabilities and equity, $m
  9,732
  10,368
  11,029
  11,717
  12,434
  13,180
  13,958
  14,769
  15,616
  16,500
  17,422
  18,386
  19,393
  20,447
  21,549
  22,702
  23,908
  25,171
  26,494
  27,880
  29,331
  30,853
  32,447
  34,118
  35,870
  37,708
  39,634
  41,656
  43,775
  45,999
Debt-to-equity ratio
  0.330
  0.370
  0.390
  0.420
  0.440
  0.470
  0.490
  0.510
  0.520
  0.540
  0.560
  0.570
  0.590
  0.600
  0.610
  0.620
  0.630
  0.640
  0.650
  0.660
  0.670
  0.680
  0.690
  0.690
  0.700
  0.710
  0.710
  0.720
  0.730
  0.730
Adjusted equity ratio
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544
  0.544

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  938
  1,021
  1,107
  1,197
  1,290
  1,388
  1,489
  1,595
  1,706
  1,821
  2,383
  2,509
  2,640
  2,778
  2,922
  3,072
  3,230
  3,395
  3,568
  3,749
  3,938
  4,137
  4,345
  4,563
  4,792
  5,032
  5,284
  5,548
  5,825
  6,115
Depreciation, amort., depletion, $m
  774
  785
  797
  809
  821
  834
  848
  862
  876
  892
  303
  320
  338
  356
  375
  395
  416
  438
  461
  486
  511
  537
  565
  594
  625
  657
  690
  725
  762
  801
Funds from operations, $m
  1,712
  1,806
  1,904
  2,005
  2,111
  2,222
  2,337
  2,457
  2,582
  2,713
  2,686
  2,829
  2,978
  3,134
  3,297
  3,468
  3,646
  3,833
  4,029
  4,234
  4,449
  4,674
  4,910
  5,157
  5,417
  5,689
  5,974
  6,273
  6,587
  6,916
Change in working capital, $m
  6
  7
  7
  7
  8
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
Cash from operations, $m
  1,706
  1,799
  1,897
  1,998
  2,104
  2,214
  2,329
  2,448
  2,573
  2,704
  2,677
  2,819
  2,967
  3,123
  3,285
  3,456
  3,634
  3,820
  4,015
  4,220
  4,434
  4,658
  4,893
  5,140
  5,398
  5,670
  5,954
  6,252
  6,565
  6,893
Maintenance CAPEX, $m
  -159
  -169
  -181
  -192
  -204
  -217
  -230
  -243
  -257
  -272
  -287
  -303
  -320
  -338
  -356
  -375
  -395
  -416
  -438
  -461
  -486
  -511
  -537
  -565
  -594
  -625
  -657
  -690
  -725
  -762
New CAPEX, $m
  -220
  -227
  -236
  -246
  -256
  -266
  -278
  -290
  -302
  -315
  -329
  -344
  -360
  -376
  -393
  -412
  -431
  -451
  -472
  -495
  -518
  -543
  -569
  -597
  -626
  -656
  -688
  -721
  -757
  -794
Cash from investing activities, $m
  -379
  -396
  -417
  -438
  -460
  -483
  -508
  -533
  -559
  -587
  -616
  -647
  -680
  -714
  -749
  -787
  -826
  -867
  -910
  -956
  -1,004
  -1,054
  -1,106
  -1,162
  -1,220
  -1,281
  -1,345
  -1,411
  -1,482
  -1,556
Free cash flow, $m
  1,327
  1,403
  1,480
  1,561
  1,644
  1,731
  1,822
  1,916
  2,014
  2,116
  2,060
  2,171
  2,288
  2,409
  2,536
  2,669
  2,807
  2,953
  3,105
  3,263
  3,430
  3,604
  3,787
  3,978
  4,179
  4,389
  4,609
  4,840
  5,083
  5,337
Issuance/(repayment) of debt, $m
  280
  290
  301
  314
  327
  340
  355
  370
  386
  403
  421
  440
  459
  480
  502
  526
  550
  576
  603
  632
  662
  694
  727
  762
  799
  838
  879
  922
  967
  1,014
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  280
  290
  301
  314
  327
  340
  355
  370
  386
  403
  421
  440
  459
  480
  502
  526
  550
  576
  603
  632
  662
  694
  727
  762
  799
  838
  879
  922
  967
  1,014
Total cash flow (excl. dividends), $m
  1,607
  1,693
  1,782
  1,874
  1,971
  2,071
  2,176
  2,286
  2,400
  2,519
  2,481
  2,611
  2,747
  2,889
  3,038
  3,194
  3,358
  3,529
  3,708
  3,895
  4,092
  4,298
  4,514
  4,740
  4,978
  5,227
  5,488
  5,762
  6,049
  6,351
Retained Cash Flow (-), $m
  -328
  -346
  -360
  -374
  -390
  -406
  -423
  -441
  -461
  -481
  -502
  -524
  -548
  -573
  -599
  -627
  -656
  -687
  -720
  -754
  -790
  -827
  -867
  -909
  -953
  -999
  -1,048
  -1,099
  -1,153
  -1,210
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,279
  1,347
  1,422
  1,500
  1,581
  1,665
  1,753
  1,844
  1,939
  2,039
  1,979
  2,086
  2,199
  2,316
  2,439
  2,567
  2,701
  2,841
  2,988
  3,142
  3,302
  3,470
  3,647
  3,831
  4,025
  4,227
  4,440
  4,663
  4,896
  5,141
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,226
  1,233
  1,238
  1,235
  1,226
  1,209
  1,184
  1,153
  1,114
  1,069
  940
  890
  836
  778
  716
  652
  588
  523
  460
  399
  342
  288
  239
  195
  157
  123
  95
  72
  53
  39
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

CGI Group Inc. (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company's services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions. The Company's segments are United States of America (U.S.); Nordics; Canada; France (including Luxembourg and Morocco) (France); United Kingdom (U.K.); Eastern, Central and Southern Europe (primarily the Netherlands and Germany) (ECS); and Asia Pacific (including Australia, India and the Philippines) (Asia Pacific). Its services in an end-to-end engagement include application development, integration and maintenance; technology infrastructure management; and business process services, such as collections and payroll management. Its Internet Protocol (IP)-based business solutions include CGI Advantage, Momentum, Credit Services Solutions, CGI Atlas360 and CGI Trade360.

FINANCIAL RATIOS  of  CGI Group Cl A (GIB)

Valuation Ratios
P/E Ratio 23.1
Price to Sales 2.2
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 17.6
Price to Free Cash Flow 22.9
Growth Rates
Sales Growth Rate 1.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15%
Cap. Spend. - 3 Yr. Gr. Rate 3.9%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 28%
Total Debt to Equity 30%
Interest Coverage 19
Management Effectiveness
Return On Assets 9.5%
Ret/ On Assets - 3 Yr. Avg. 9.4%
Return On Total Capital 12.6%
Ret/ On T. Cap. - 3 Yr. Avg. 12.6%
Return On Equity 16.3%
Return On Equity - 3 Yr. Avg. 17%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 30%
Gross Margin - 3 Yr. Avg. 30.2%
EBITDA Margin 17.3%
EBITDA Margin - 3 Yr. Avg. 17.8%
Operating Margin 13.1%
Oper. Margin - 3 Yr. Avg. 13.2%
Pre-Tax Margin 13.1%
Pre-Tax Margin - 3 Yr. Avg. 13.2%
Net Profit Margin 9.5%
Net Profit Margin - 3 Yr. Avg. 9.7%
Effective Tax Rate 27%
Eff/ Tax Rate - 3 Yr. Avg. 26.6%
Payout Ratio 0%

GIB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GIB stock intrinsic value calculation we used $8682.99919936 million for the last fiscal year's total revenue generated by CGI Group Cl A. The default revenue input number comes from 0001 income statement of CGI Group Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GIB stock valuation model: a) initial revenue growth rate of 6.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for GIB is calculated based on our internal credit rating of CGI Group Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CGI Group Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GIB stock the variable cost ratio is equal to 85.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GIB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for CGI Group Cl A.

Corporate tax rate of 27% is the nominal tax rate for CGI Group Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GIB stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GIB are equal to 37.5%.

Life of production assets of 20.5 years is the average useful life of capital assets used in CGI Group Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GIB is equal to 1.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4966.07365893 million for CGI Group Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 254.107 million for CGI Group Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CGI Group Cl A at the current share price and the inputted number of shares is $15.7 billion.

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COMPANY NEWS

▶ CGI: Fiscal 4Q Earnings Snapshot   [09:05AM  Associated Press]
▶ CGI reports Q4 and Fiscal 2018 results   [06:30AM  CNW Group]
▶ 5 Undervalued Companies Growing Earnings   [01:35PM  GuruFocus.com]
▶ CGI Group (GIB) Enters Oversold Territory   [Oct-11-18 08:41AM  Zacks]
▶ CGI Group (GIB) Q3 Earnings Meet Estimates   [Aug-01-18 08:16AM  Zacks]
▶ CGI: Fiscal 3Q Earnings Snapshot   [06:54AM  Associated Press]
▶ CGI reports strong Q3-F2018 results   [06:30AM  PR Newswire]
▶ Calculating The Intrinsic Value Of CGI Group Inc (TSE:GIB.A)   [Jun-25-18 08:12AM  Simply Wall St.]
▶ Estimating The Fair Value Of CGI Group Inc (TSE:GIB.A)   [Jun-20-18 05:25PM  Simply Wall St.]
▶ Is CGI Group a Great Stock for Value Investors?   [May-24-18 10:00AM  Zacks]
▶ Is CGI Group Incs (TSE:GIB.A) ROE Of 15.23% Sustainable?   [May-09-18 06:14PM  Simply Wall St.]
▶ CGI: Fiscal 2Q Earnings Snapshot   [May-02-18 08:03AM  Associated Press]
▶ Should You Buy CGI Group Inc (TSE:GIB.A)?   [Mar-26-18 09:00AM  Simply Wall St.]
▶ A Look At The Intrinsic Value Of CGI Group Inc (TSE:GIB.A)   [Mar-12-18 04:14PM  Simply Wall St.]
▶ CGI announces intent to repurchase 3,230,450 shares   [Feb-26-18 06:30AM  CNW Group]
▶ CGI reports director election results   [Jan-31-18 07:15PM  PR Newswire]
▶ CGI reports director election results   [07:15PM  CNW Group]
▶ CGI meets 1Q profit forecasts   [08:21AM  Associated Press]
▶ CGI reports strong Q1 results   [08:12AM  PR Newswire]
▶ CGI reports strong Q1 results   [08:12AM  CNW Group]
▶ CGI renews its Normal Course Issuer Bid   [08:08AM  PR Newswire]
▶ CGI Files 2017 Annual Disclosure Documents   [Dec-21-17 06:18PM  PR Newswire]

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