Equities research analysts predict that CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) will post $2.07 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CGI Group’s earnings, with estimates ranging from $1.98 billion to $2.23 billion. CGI Group also reported sales of $2.07 billion during the same quarter last year. The company is expected to announce its next earnings report before the market opens on Wednesday, August 2nd.

According to Zacks, analysts expect that CGI Group will report full year sales of $2.07 billion for the current year, with estimates ranging from $7.85 billion to $8.61 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.43 billion per share, with estimates ranging from $8.00 billion to $9.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 3rd. The technology company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.01. CGI Group had a net margin of 10.31% and a return on equity of 17.38%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s revenue was down .9% compared to the same quarter last year.

GIB has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. Beacon Securities reissued a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. Finally, BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. CGI Group has an average rating of “Buy” and an average price target of $57.60.

A number of hedge funds have recently bought and sold shares of GIB. US Bancorp DE increased its stake in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the last quarter. Quantbot Technologies LP bought a new stake in CGI Group during the first quarter valued at about $173,000. Quantitative Systematic Strategies LLC bought a new stake in CGI Group during the second quarter valued at about $202,000. Campbell & CO Investment Adviser LLC bought a new stake in CGI Group during the first quarter valued at about $205,000. Finally, HighTower Advisors LLC bought a new stake in CGI Group during the first quarter valued at about $289,000. Hedge funds and other institutional investors own 62.90% of the company’s stock.

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CGI Group (GIB) opened at 52.65 on Friday. The stock has a market capitalization of $15.60 billion, a P/E ratio of 18.69 and a beta of 0.92. CGI Group has a 12-month low of $44.19 and a 12-month high of $53.08. The firm’s 50-day moving average is $50.96 and its 200 day moving average is $48.73.

CGI Group Company Profile

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.

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Earnings History and Estimates for CGI Group (NYSE:GIB)

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