Brokerages Anticipate CGI Group, Inc. (GIB) to Announce $0.76 EPS
Wall Street brokerages expect CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) to report earnings per share (EPS) of $0.76 for the current quarter, according to Zacks. Seven analysts have made estimates for CGI Group’s earnings, with estimates ranging from $0.70 to $0.80. CGI Group reported earnings of $0.68 per share during the same quarter last year, which would suggest a positive year over year growth rate of 11.8%. The firm is scheduled to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that CGI Group will report full year earnings of $2.93 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $3.03. For the next financial year, analysts expect that the firm will report earnings of $3.21 per share, with EPS estimates ranging from $3.04 to $3.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue was up 6.4% compared to the same quarter last year.
A number of analysts have weighed in on GIB shares. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday. Barclays PLC reiterated an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. CGI Group presently has a consensus rating of “Hold” and a consensus price target of $64.00.
Shares of CGI Group (NYSE:GIB) traded up 0.59% on Wednesday, hitting $51.42. The company’s stock had a trading volume of 16,727 shares. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65. The stock’s 50 day moving average price is $51.01 and its 200 day moving average price is $49.91. The stock has a market capitalization of $15.18 billion, a P/E ratio of 17.36 and a beta of 0.92.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. raised its position in shares of CGI Group by 16.9% during the third quarter. Eqis Capital Management Inc. now owns 17,840 shares of the technology company’s stock worth $925,000 after acquiring an additional 2,581 shares during the last quarter. Scotia Capital Inc. boosted its holdings in CGI Group by 5.0% in the second quarter. Scotia Capital Inc. now owns 211,524 shares of the technology company’s stock valued at $10,776,000 after acquiring an additional 10,108 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in CGI Group by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 2,236,931 shares of the technology company’s stock valued at $114,093,000 after acquiring an additional 104,916 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in CGI Group by 44.4% in the second quarter. Cubist Systematic Strategies LLC now owns 8,855 shares of the technology company’s stock valued at $452,000 after acquiring an additional 2,721 shares during the last quarter. Finally, State Street Corp bought a new stake in CGI Group in the second quarter valued at approximately $684,000. Hedge funds and other institutional investors own 70.69% 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.
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