Equities research analysts forecast that CGI Group (NYSE:GIB) (TSE:GIB.A) will post earnings of $0.82 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for CGI Group’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.73. CGI Group posted earnings per share of $0.68 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.6%. The business is scheduled to issue its next earnings results before the market opens on Wednesday, May 2nd.
On average, analysts expect that CGI Group will report full-year earnings of $3.35 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 firm will report earnings of $3.67 per share, with EPS estimates ranging from $3.57 to $3.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 9.50% and a return on equity of 17.54%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS.
GIB has been the topic of several recent research reports. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, February 5th. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Barclays raised their target price on shares of CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $71.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in CGI Group by 58.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock worth $180,133,000 after acquiring an additional 1,219,578 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in CGI Group by 17.5% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,452,800 shares of the technology company’s stock worth $99,226,000 after acquiring an additional 216,719 shares during the last quarter. Mackenzie Financial Corp boosted its stake in CGI Group by 164.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,224,359 shares of the technology company’s stock worth $66,519,000 after acquiring an additional 761,285 shares during the last quarter. Franklin Resources Inc. boosted its stake in CGI Group by 284.0% during the 4th quarter. Franklin Resources Inc. now owns 1,044,010 shares of the technology company’s stock worth $56,763,000 after acquiring an additional 772,125 shares during the last quarter. Finally, AGF Investments Inc. boosted its stake in CGI Group by 6.4% during the 4th quarter. AGF Investments Inc. now owns 947,256 shares of the technology company’s stock worth $51,470,000 after acquiring an additional 57,316 shares during the last quarter. 59.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE GIB opened at $58.52 on Monday. The stock has a market capitalization of $16,886.33, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.73. 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 has a 1 year low of $46.40 and a 1 year high of $59.89.
CGI Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 31st that allows the company to repurchase 20,590,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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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