CGI Group, Inc. (GIB) Expected to Post Quarterly Sales of $2.17 Billion
Wall Street analysts predict that CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) will announce sales of $2.17 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for CGI Group’s earnings. The lowest sales estimate is $2.13 billion and the highest is $2.20 billion. CGI Group reported sales of $1.98 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The business is expected to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that CGI Group will report full-year sales of $2.17 billion for the current fiscal year, with estimates ranging from $8.64 billion to $8.79 billion. For the next fiscal year, analysts forecast that the company will post sales of $9.03 billion per share, with estimates ranging from $8.81 billion to $9.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover 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 (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS.
GIB has been the subject of a number of recent research reports. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research raised shares of CGI Group from a “sell” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, July 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. CGI Group currently has an average rating of “Hold” and an average price target of $64.00.
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A number of institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. boosted its holdings in CGI Group by 16.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 17,840 shares of the technology company’s stock worth $925,000 after buying an additional 2,581 shares during the period. Scotia Capital Inc. boosted its holdings in CGI Group by 5.0% in the 2nd quarter. Scotia Capital Inc. now owns 211,524 shares of the technology company’s stock worth $10,776,000 after buying an additional 10,108 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in CGI Group by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,236,931 shares of the technology company’s stock worth $114,093,000 after buying an additional 104,916 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in CGI Group by 44.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,855 shares of the technology company’s stock worth $452,000 after buying an additional 2,721 shares during the period. Finally, State Street Corp bought a new position in CGI Group in the 2nd quarter worth $684,000. 70.69% of the stock is owned by institutional investors.
Shares of CGI Group (GIB) opened at 52.12 on Friday. The stock has a market cap of $15.39 billion, a P/E ratio of 17.60 and a beta of 0.92. CGI Group has a 52-week low of $45.73 and a 52-week high of $53.65. The firm’s 50 day moving average price is $51.13 and its 200 day moving average price is $49.94.
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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