Wall Street analysts expect that CGI Inc (NYSE:GIB) (TSE:GIB.A) will report $2.27 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CGI’s earnings, with estimates ranging from $2.25 billion to $2.28 billion. CGI posted sales of $2.14 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, November 6th.

On average, analysts expect that CGI will report full-year sales of $9.20 billion for the current year, with estimates ranging from $9.10 billion to $9.24 billion. For the next year, analysts forecast that the business will post sales of $9.73 billion, with estimates ranging from $9.57 billion to $9.85 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). CGI had a net margin of 10.32% and a return on equity of 18.78%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $1.08 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis.

A number of research firms have commented on GIB. Barclays began coverage on CGI in a research note on Friday, September 20th. They issued an “overweight” rating and a $90.00 price objective on the stock. Societe Generale lowered CGI from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. ValuEngine lowered CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Desjardins raised CGI from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. CGI has a consensus rating of “Buy” and an average price target of $88.25.

A number of institutional investors have recently bought and sold shares of GIB. Geode Capital Management LLC lifted its stake in shares of CGI by 5,894.0% during the fourth quarter. Geode Capital Management LLC now owns 277,403 shares of the technology company’s stock valued at $16,864,000 after acquiring an additional 272,775 shares during the period. US Bancorp DE lifted its stake in CGI by 7.1% in the first quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock valued at $285,000 after buying an additional 274 shares during the period. Parametric Portfolio Associates LLC lifted its stake in CGI by 10.9% in the first quarter. Parametric Portfolio Associates LLC now owns 249,830 shares of the technology company’s stock valued at $17,178,000 after buying an additional 24,459 shares during the period. Envestnet Asset Management Inc. acquired a new position in CGI in the first quarter valued at about $13,785,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in CGI in the first quarter valued at about $463,000. 55.19% of the stock is currently owned by institutional investors.

NYSE:GIB traded up $0.59 during trading hours on Friday, reaching $78.40. The company had a trading volume of 5,582 shares, compared to its average volume of 147,825. The stock has a 50-day moving average of $78.00 and a two-hundred day moving average of $75.12. CGI has a one year low of $57.35 and a one year high of $80.59. The firm has a market capitalization of $20.96 billion, a PE ratio of 24.43, a PEG ratio of 2.12 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.35.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Earnings History and Estimates for CGI (NYSE:GIB)

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