$2.02 Billion in Sales Expected for CGI Group, Inc. (GIB) This Quarter
Wall Street analysts forecast that CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) will report sales of $2.02 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for CGI Group’s earnings. The lowest sales estimate is $1.98 billion and the highest is $2.09 billion. CGI Group reported sales of $2.07 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The firm is expected to report its next earnings results before the market opens on Wednesday, August 2nd.
On average, analysts expect that CGI Group will report full-year sales of $2.02 billion for the current fiscal year, with estimates ranging from $7.85 billion to $8.07 billion. For the next financial year, analysts forecast that the firm will post sales of $8.23 billion per share, with estimates ranging from $8.00 billion to $8.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.69 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.74 billion. CGI Group had a net margin of 10.31% and a return on equity of 17.38%. CGI Group’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS.
Several equities analysts have recently weighed in on the stock. Beacon Securities reiterated a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. CGI Group has an average rating of “Hold” and a consensus price target of $56.40.
COPYRIGHT VIOLATION WARNING: “$2.02 Billion in Sales Expected for CGI Group, Inc. (GIB) This Quarter” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.americanbankingnews.com/2017/06/28/2-02-billion-in-sales-expected-for-cgi-group-inc-gib-this-quarter-2.html.
Shares of CGI Group (NYSE GIB) traded up 0.21% during trading on Wednesday, reaching $51.55. 38,545 shares of the company traded hands. CGI Group has a 52 week low of $40.88 and a 52 week high of $51.88. The company has a market capitalization of $15.27 billion, a P/E ratio of 19.13 and a beta of 0.92. The company’s 50-day moving average price is $49.24 and its 200-day moving average price is $48.15.
Several institutional investors have recently bought and sold shares of GIB. Bank of Nova Scotia increased its position in CGI Group by 12.2% in the first quarter. Bank of Nova Scotia now owns 692,915 shares of the technology company’s stock valued at $33,195,000 after buying an additional 75,502 shares during the last quarter. HighTower Advisors LLC acquired a new position in CGI Group during the first quarter valued at $289,000. Paloma Partners Management Co acquired a new position in CGI Group during the first quarter valued at $320,000. Bank of America Corp DE increased its position in CGI Group by 0.5% in the first quarter. Bank of America Corp DE now owns 675,697 shares of the technology company’s stock valued at $32,387,000 after buying an additional 3,618 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in CGI Group during the first quarter valued at $699,000. Hedge funds and other institutional investors own 63.24% of the company’s stock.
About CGI Group
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CGI Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.