CGI (GIB) Expected to Post Earnings of $0.83 Per Share

Equities research analysts forecast that CGI (NYSE:GIB) (TSE:GIB.A) will report earnings of $0.83 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CGI’s earnings, with estimates ranging from $0.79 to $0.86. CGI reported earnings of $0.74 per share in the same quarter last year, which suggests a positive year over year growth rate of 12.2%. The business is scheduled to announce its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that CGI will report full year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $3.18 to $3.25. For the next financial year, analysts forecast that the business will report earnings of $3.53 per share, with EPS estimates ranging from $3.42 to $3.66. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.24. CGI had a net margin of 9.33% and a return on equity of 18.06%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year.

Several equities research analysts have weighed in on GIB shares. Desjardins downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of CGI from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Barclays boosted their target price on shares of CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Finally, Scotiabank downgraded shares of CGI from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.25.

GIB opened at $62.96 on Friday. CGI has a 1-year low of $51.16 and a 1-year high of $66.53. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.54.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $124,000. Daiwa SB Investments Ltd. purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $206,000. WCM Investment Management CA purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $212,000. AE Wealth Management LLC purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $268,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of CGI during the 2nd quarter valued at approximately $397,000. Hedge funds and other institutional investors own 59.40% of the company’s stock.

CGI Company Profile

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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