Brokerages Expect CGI Group, Inc. (GIB) Will Post Quarterly Sales of $2.17 Billion
Equities analysts predict that CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) will announce sales of $2.17 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for CGI Group’s earnings, with the highest sales estimate coming in at $2.20 billion and the lowest estimate coming in at $2.13 billion. CGI Group posted sales of $1.98 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.6%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that CGI Group will report full-year sales of $2.17 billion for the current year, with estimates ranging from $8.64 billion to $8.79 billion. For the next year, analysts anticipate that the firm will report sales of $9.03 billion per share, with estimates ranging from $8.81 billion to $9.16 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. CGI Group’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS.
A number of research firms have commented on GIB. BidaskClub cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $61.00.
Shares of CGI Group (NYSE GIB) opened at 51.48 on Friday. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 17.89 and a beta of 0.92. The company’s 50-day moving average is $50.87 and its 200-day moving average is $49.47. CGI Group has a one year low of $45.73 and a one year high of $53.65.
Several institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its position in shares of CGI Group by 2.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares in the last quarter. World Asset Management Inc lifted its position in shares of CGI Group by 0.8% during the first quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock worth $806,000 after purchasing an additional 134 shares in the last quarter. BerganKDV Wealth Management LLC lifted its position in shares of CGI Group by 1.5% during the second quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock worth $816,000 after purchasing an additional 238 shares in the last quarter. Lincoln National Corp lifted its position in shares of CGI Group by 3.4% during the second quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock worth $407,000 after purchasing an additional 263 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after purchasing an additional 380 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.
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.
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