Wall Street analysts expect that CGI Group (NYSE:GIB) (TSE:GIB.A) will report earnings per share of $0.86 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for CGI Group’s earnings. The highest EPS estimate is $0.88 and the lowest is $0.84. CGI Group posted earnings of $0.70 per share in the same quarter last year, which suggests a positive year over year growth rate of 22.9%. The business is expected to issue its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that CGI Group will report full-year earnings of $3.26 per share for the current financial year, with EPS estimates ranging from $3.18 to $3.34. For the next financial year, analysts forecast that the business will post earnings of $3.57 per share, with EPS estimates ranging from $3.41 to $3.76. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.88 billion. CGI Group had a return on equity of 17.67% and a net margin of 9.31%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share.
GIB has been the subject of several research reports. Zacks Investment Research raised CGI Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Barclays boosted their target price on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, ValuEngine raised CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CGI Group currently has a consensus rating of “Buy” and a consensus target price of $71.25.
CGI Group opened at $60.27 on Friday, MarketBeat.com reports. CGI Group has a fifty-two week low of $48.43 and a fifty-two week high of $60.96. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $17.34 billion, a PE ratio of 21.68, a PEG ratio of 2.05 and a beta of 0.70.
CGI Group announced that its board has authorized a stock buyback plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Several institutional investors have recently bought and sold shares of GIB. Dimensional Fund Advisors LP lifted its holdings in shares of CGI Group by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 175,740 shares of the technology company’s stock valued at $9,116,000 after purchasing an additional 6,641 shares during the last quarter. Regentatlantic Capital LLC increased its position in CGI Group by 5.5% in the 4th quarter. Regentatlantic Capital LLC now owns 64,946 shares of the technology company’s stock valued at $3,529,000 after acquiring an additional 3,405 shares during the period. Lenox Wealth Management Inc. increased its position in CGI Group by 27.4% in the 4th quarter. Lenox Wealth Management Inc. now owns 33,969 shares of the technology company’s stock valued at $1,846,000 after acquiring an additional 7,311 shares during the period. Eqis Capital Management Inc. increased its position in CGI Group by 45.7% in the 4th quarter. Eqis Capital Management Inc. now owns 25,992 shares of the technology company’s stock valued at $1,412,000 after acquiring an additional 8,152 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in CGI Group by 22.0% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 12,151 shares of the technology company’s stock valued at $660,000 after acquiring an additional 2,190 shares during the period. 59.18% of the stock is owned by institutional investors and hedge funds.
About CGI Group
CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.
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