Equities analysts expect that CGI Group Inc (NYSE:GIB) (TSE:GIB.A) will report sales of $2.33 billion for the current quarter, according to Zacks. Five analysts have provided estimates for CGI Group’s earnings. The highest sales estimate is $2.37 billion and the lowest is $2.29 billion. CGI Group reported sales of $2.12 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that CGI Group will report full year sales of $8.97 billion for the current fiscal year, with estimates ranging from $8.90 billion to $9.06 billion. For the next financial year, analysts anticipate that the business will report sales of $9.26 billion per share, with estimates ranging from $9.10 billion to $9.38 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, May 2nd. The technology company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). CGI Group had a net margin of 9.31% and a return on equity of 17.67%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was up 8.3% on a year-over-year basis.
A number of research analysts recently issued reports on GIB shares. Zacks Investment Research downgraded CGI Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Barclays boosted their price target on CGI Group from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, May 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $71.25.
Shares of CGI Group opened at $61.69 on Tuesday, MarketBeat.com reports. CGI Group has a 1 year low of $49.02 and a 1 year high of $63.34. The stock has a market cap of $18.14 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.23.
Hedge funds have recently bought and sold shares of the business. Premia Global Advisors LLC purchased a new position in shares of CGI Group during the 4th quarter worth approximately $188,000. Two Sigma Securities LLC purchased a new stake in shares of CGI Group in the 4th quarter worth approximately $216,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of CGI Group in the 4th quarter worth approximately $344,000. BlueCrest Capital Management Ltd purchased a new stake in shares of CGI Group in the 4th quarter worth approximately $430,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of CGI Group by 74.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 8,055 shares of the technology company’s stock worth $438,000 after buying an additional 3,425 shares during the last quarter. Hedge funds and other institutional investors own 59.27% of the company’s stock.
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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