Zacks: Analysts Anticipate CGI Group, Inc. (GIB) Will Post Quarterly Sales of $2.17 Billion

Equities research analysts expect CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) to post $2.17 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for CGI Group’s earnings, with the lowest sales estimate coming in at $2.13 billion and the highest estimate coming in at $2.20 billion. CGI Group reported sales of $1.98 billion in 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 report 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 year, analysts anticipate that the business will post sales of $9.03 billion per share, with estimates ranging from $8.81 billion to $9.16 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.

Several research analysts have recently weighed in on GIB shares. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a 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 report on Tuesday, July 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $64.00.

Shares of CGI Group (GIB) traded up 0.17% during midday trading on Friday, hitting $52.48. 92,084 shares of the stock traded hands. The company’s 50-day moving average is $51.27 and its 200 day moving average is $50.05. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65. The firm has a market capitalization of $15.50 billion, a PE ratio of 17.72 and a beta of 0.92.

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A number of hedge funds have recently made changes to their positions in GIB. US Bancorp DE increased its holdings in CGI Group by 2.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the last quarter. Advisor Group Inc. increased its holdings in CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the last quarter. Quantbot Technologies LP purchased a new stake in CGI Group during the first quarter valued at approximately $173,000. Quantitative Systematic Strategies LLC purchased a new stake in CGI Group during the second quarter valued at approximately $202,000. Finally, Letko Brosseau & Associates Inc. purchased a new stake in CGI Group during the second quarter valued at approximately $203,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.

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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 year, analysts anticipate that the business will post sales of $9.03 billion per share, with estimates ranging from $8.81 billion to $9.16 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.

Several research analysts have recently weighed in on GIB shares. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a 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 report on Tuesday, July 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $64.00.

Shares of CGI Group (GIB) traded up 0.17% during midday trading on Friday, hitting $52.48. 92,084 shares of the stock traded hands. The company’s 50-day moving average is $51.27 and its 200 day moving average is $50.05. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65. The firm has a market capitalization of $15.50 billion, a PE ratio of 17.72 and a beta of 0.92.

WARNING: This piece of content was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/09/zacks-analysts-anticipate-cgi-group-inc-gib-will-post-quarterly-sales-of-2-17-billion.html.

A number of hedge funds have recently made changes to their positions in GIB. US Bancorp DE increased its holdings in CGI Group by 2.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the last quarter. Advisor Group Inc. increased its holdings in CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the last quarter. Quantbot Technologies LP purchased a new stake in CGI Group during the first quarter valued at approximately $173,000. Quantitative Systematic Strategies LLC purchased a new stake in CGI Group during the second quarter valued at approximately $202,000. Finally, Letko Brosseau & Associates Inc. purchased a new stake in CGI Group during the second quarter valued at approximately $203,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.

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

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