Equities research analysts expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to announce sales of $2.31 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for CGI Group’s earnings. The highest sales estimate is $2.39 billion and the lowest is $2.24 billion. CGI Group posted sales of $2.06 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The business is expected to report its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that CGI Group will report full-year sales of $2.31 billion for the current fiscal year, with estimates ranging from $9.12 billion to $9.39 billion. For the next fiscal year, analysts anticipate that the company will post sales of $9.55 billion per share, with estimates ranging from $9.42 billion to $9.75 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly 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. CGI Group had a net margin of 9.50% and a return on equity of 17.54%. The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 5.3% on a year-over-year basis.

Several research firms recently commented on GIB. Barclays boosted their price objective on shares of CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank boosted their price objective on shares of CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective (up from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. CGI Group presently has an average rating of “Buy” and an average price target of $71.00.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after acquiring an additional 380 shares in the last quarter. Voya Investment Management LLC lifted its position in CGI Group by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock valued at $427,000 after acquiring an additional 837 shares in the last quarter. Regentatlantic Capital LLC lifted its position in CGI Group by 1.6% during the 3rd quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock worth $3,192,000 after buying an additional 960 shares in the last quarter. Greenleaf Trust lifted its position in CGI Group by 97.5% during the 4th quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after buying an additional 995 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its position in CGI Group by 0.9% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock worth $7,125,000 after buying an additional 1,115 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group (NYSE:GIB) opened at $54.70 on Friday. CGI Group has a fifty-two week low of $45.81 and a fifty-two week high of $58.93. The stock has a market cap of $15,983.90, a price-to-earnings ratio of 19.19, a PEG ratio of 1.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.70.

CGI Group announced that its board has approved a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase 20,590,000 outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “$2.31 Billion in Sales Expected for CGI Group Inc (GIB) This Quarter” was reported by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/2-31-billion-in-sales-expected-for-cgi-group-inc-gib-this-quarter/1854320.html.

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.

Get a free copy of the Zacks research report on CGI Group (GIB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CGI Group (NYSE:GIB)

Receive News & Ratings for CGI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group and related companies with MarketBeat.com's FREE daily email newsletter.