$2.17 Billion in Sales Expected for CGI Group Inc (GIB) This Quarter

Analysts expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to report sales of $2.17 billion for the current quarter, Zacks reports. Five analysts have made estimates for CGI Group’s earnings, with the highest sales estimate coming in at $2.22 billion and the lowest estimate coming in at $2.13 billion. CGI Group posted sales of $2.00 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The business is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, January 31st.

According to Zacks, analysts expect that CGI Group will report full-year sales of $2.17 billion for the current fiscal year, with estimates ranging from $8.81 billion to $9.03 billion. For the next financial year, analysts anticipate that the business will post sales of $9.20 billion per share, with estimates ranging from $9.11 billion to $9.33 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). CGI Group had a return on equity of 17.51% and a net margin of 9.52%.

Several brokerages have issued reports on GIB. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price (up from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Finally, Scotiabank raised their price objective on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.00.

Shares of CGI Group (NYSE GIB) traded up $0.01 during trading hours on Tuesday, reaching $54.07. The company’s stock had a trading volume of 166,300 shares, compared to its average volume of 180,279. The stock has a market capitalization of $14,000.00, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 0.72. CGI Group has a fifty-two week low of $45.81 and a fifty-two week high of $54.99.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its stake in shares of CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after buying an additional 380 shares during the period. Voya Investment Management LLC raised its stake in CGI Group by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock valued at $427,000 after purchasing an additional 837 shares during the period. Regentatlantic Capital LLC raised its stake in CGI Group by 1.6% during the 3rd quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock valued at $3,192,000 after purchasing an additional 960 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its stake in CGI Group by 0.9% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock valued at $7,125,000 after purchasing an additional 1,115 shares during the period. Finally, ETRADE Capital Management LLC raised its stake in CGI Group by 14.6% during the 3rd quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock valued at $725,000 after purchasing an additional 1,784 shares during the period. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/23/2-17-billion-in-sales-expected-for-cgi-group-inc-gib-this-quarter-3.html.

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.

Get a free copy of the Zacks research report on CGI Group (GIB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for CGI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply