$0.72 EPS Expected for CGI Group, Inc. (GIB) This Quarter
Wall Street brokerages expect that CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) will post $0.72 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for CGI Group’s earnings, with the lowest EPS estimate coming in at $0.59 and the highest estimate coming in at $0.79. CGI Group posted earnings of $0.68 per share in the same quarter last year, which would suggest a positive year over year growth rate of 5.9%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that CGI Group will report full year earnings of $2.84 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.96. For the next financial year, analysts forecast that the business will report earnings of $3.12 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 research analysts that cover CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.
Several analysts recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised CGI Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Beacon Securities reaffirmed a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. CGI Group currently has a consensus rating of “Buy” and a consensus price target of $61.00.
A number of institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its position in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares in the last quarter. Quantbot Technologies LP acquired a new position in CGI Group during the first quarter worth approximately $173,000. Quantitative Systematic Strategies LLC acquired a new position in CGI Group during the second quarter worth approximately $202,000. Campbell & CO Investment Adviser LLC acquired a new position in CGI Group during the first quarter worth approximately $205,000. Finally, Marshall Wace North America L.P. acquired a new position in CGI Group during the second quarter worth approximately $214,000. 63.36% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.watchlistnews.com/0-72-eps-expected-for-cgi-group-inc-gib-this-quarter/1466436.html.
Shares of CGI Group (NYSE GIB) traded down 0.99% during trading on Wednesday, reaching $50.11. The company had a trading volume of 320,717 shares. The stock has a 50 day moving average price of $51.73 and a 200 day moving average price of $49.00. The firm has a market capitalization of $14.75 billion, a PE ratio of 17.53 and a beta of 0.93. CGI Group has a 12 month low of $45.73 and a 12 month high of $53.65.
About CGI Group
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CGI Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.