Equities research analysts expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to post sales of $2.31 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for CGI Group’s earnings, with the lowest sales estimate coming in at $2.24 billion and the highest estimate coming in at $2.39 billion. CGI Group reported sales of $2.06 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.1%. The business is scheduled to report its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that CGI Group will report full-year sales of $2.31 billion for the current financial year, with estimates ranging from $9.12 billion to $9.39 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $9.55 billion per share, with estimates ranging from $9.42 billion to $9.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share.
Shares of CGI Group (NYSE GIB) opened at $54.70 on Friday. The company has a market capitalization of $15,983.90, a price-to-earnings ratio of 19.19, a PEG ratio of 1.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.70. CGI Group has a 1 year low of $45.81 and a 1 year high of $58.93.
CGI Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of CGI Group by 58.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock worth $180,133,000 after purchasing an additional 1,219,578 shares in the last quarter. Greenleaf Trust lifted its stake in shares of CGI Group by 97.5% during the fourth quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after purchasing an additional 995 shares in the last quarter. Forsta AP Fonden acquired a new position in shares of CGI Group during the fourth quarter worth about $3,832,000. Public Employees Retirement System of Ohio lifted its stake in shares of CGI Group by 7.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 447,700 shares of the technology company’s stock worth $24,324,000 after purchasing an additional 29,800 shares in the last quarter. Finally, AGF Investments Inc. lifted its stake in shares of CGI Group by 6.4% during the fourth quarter. AGF Investments Inc. now owns 947,256 shares of the technology company’s stock worth $51,470,000 after purchasing an additional 57,316 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/09/cgi-group-inc-gib-expected-to-post-quarterly-sales-of-2-31-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.