Zacks: Analysts Anticipate CGI Group, Inc. (NYSE:GIB) to Announce $0.72 Earnings Per Share
Analysts expect CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) to report $0.72 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CGI Group’s earnings, with the highest EPS estimate coming in at $0.79 and the lowest estimate coming in at $0.59. CGI Group posted earnings of $0.68 per share during the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The firm is expected to report its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that CGI Group will report full-year earnings of $2.86 per share for the current year, with EPS estimates ranging from $2.66 to $2.96. For the next financial year, analysts anticipate that the firm will report earnings of $3.14 per share, with EPS estimates ranging from $2.79 to $3.34. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.70 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 business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year.
Several equities analysts have recently issued reports on the company. BidaskClub lowered CGI Group from a “buy” rating to a “hold” rating in a report on Thursday. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Beacon Securities reaffirmed a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.00.
Shares of CGI Group (NYSE GIB) traded up 0.71% on Wednesday, hitting $49.55. The stock had a trading volume of 138,626 shares. The company has a 50-day moving average of $51.68 and a 200 day moving average of $49.06. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 17.27 and a beta of 0.93. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65.
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A number of institutional investors have recently made changes to their positions in GIB. US Bancorp DE raised its position in shares of CGI Group by 2.4% in 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 period. World Asset Management Inc raised its position in shares of CGI Group by 0.8% in the first quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock valued at $806,000 after buying an additional 134 shares during the period. BerganKDV Wealth Management LLC raised its position in shares of CGI Group by 1.5% in the second quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock valued at $816,000 after buying an additional 238 shares during the period. Lincoln National Corp raised its position in shares of CGI Group by 3.4% in the second quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock valued at $407,000 after buying an additional 263 shares during the period. Finally, Advisor Group Inc. raised its position 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. 63.36% of the stock is owned by institutional investors and hedge funds.
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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