Wall Street analysts expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to report $0.82 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CGI Group’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.89. CGI Group reported earnings of $0.68 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that CGI Group will report full year earnings of $3.36 per share for the current financial year, with EPS estimates ranging from $3.18 to $3.47. For the next financial year, analysts anticipate that the company will post earnings of $3.68 per share, with EPS estimates ranging from $3.58 to $3.85. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results 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%. CGI Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share.
A number of research firms recently commented on GIB. Barclays boosted their price target on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, February 5th. Scotiabank boosted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. ValuEngine raised CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CGI Group presently has a consensus rating of “Buy” and a consensus target price of $71.00.
A number of hedge funds and other institutional investors have recently modified their holdings of GIB. Greenleaf Trust raised its stake in 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 acquiring an additional 995 shares in the last quarter. Advisor Group Inc. increased 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 valued at $111,000 after buying an additional 380 shares during the period. Premia Global Advisors LLC acquired a new position in shares of CGI Group in the fourth quarter valued at approximately $188,000. Two Sigma Securities LLC acquired a new position in shares of CGI Group in the fourth quarter valued at approximately $216,000. Finally, GHP Investment Advisors Inc. acquired a new position in shares of CGI Group in the third quarter valued at approximately $240,000. 57.97% of the stock is owned by hedge funds and other institutional investors.
CGI Group (NYSE GIB) traded down $0.05 during mid-day trading on Friday, reaching $58.61. The company had a trading volume of 245,640 shares, compared to its average volume of 248,686. The firm has a market capitalization of $16,794.18, a P/E ratio of 21.71, a PEG ratio of 1.93 and a beta of 0.77. CGI Group has a fifty-two week low of $45.81 and a fifty-two week high of $59.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 0.99.
CGI Group declared that its Board of Directors has approved a stock buyback program on Wednesday, January 31st that allows the company to buyback 20,590,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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.
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