Brokerages expect CGI Inc (NYSE:GIB) (TSE:GIB.A) to announce sales of $2.35 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for CGI’s earnings, with the highest sales estimate coming in at $2.37 billion and the lowest estimate coming in at $2.33 billion. CGI reported sales of $2.28 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The firm is expected to report its next earnings report before the market opens on Wednesday, July 31st.

On average, analysts expect that CGI will report full-year sales of $9.12 billion for the current financial year, with estimates ranging from $9.09 billion to $9.17 billion. For the next financial year, analysts forecast that the firm will post sales of $9.64 billion, with estimates ranging from $9.51 billion to $9.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.28. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.06 billion. CGI had a return on equity of 18.34% and a net margin of 10.29%. CGI’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.04 earnings per share.

GIB has been the subject of a number of recent analyst reports. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Bank of America set a $30.00 price objective on L Brands and gave the company a “hold” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.75.

Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of CGI by 59.0% during the first quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after purchasing an additional 213 shares in the last quarter. US Bancorp DE increased its position in shares of CGI by 7.1% during the first quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after purchasing an additional 274 shares in the last quarter. Csenge Advisory Group increased its position in shares of CGI by 9.7% during the first quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock worth $255,000 after purchasing an additional 327 shares in the last quarter. Bremer Bank National Association purchased a new stake in shares of CGI during the first quarter worth approximately $25,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of CGI during the second quarter worth approximately $28,000. Institutional investors and hedge funds own 56.76% of the company’s stock.

Shares of CGI stock traded down $0.55 on Friday, reaching $78.30. The company’s stock had a trading volume of 147,531 shares, compared to its average volume of 143,863. The firm has a market capitalization of $21.47 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.37 and a beta of 0.54. CGI has a 52-week low of $57.35 and a 52-week high of $79.04. The business has a 50-day simple moving average of $75.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 0.82.

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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