Zacks: Analysts Anticipate CGI (GIB) to Post $0.82 Earnings Per Share

Share on StockTwits

Wall Street brokerages expect that CGI (NYSE:GIB) (TSE:GIB.A) will post earnings of $0.82 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CGI’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.79. CGI reported earnings of $0.74 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.8%. The company is expected to announce its next earnings results on Wednesday, November 14th.

On average, analysts expect that CGI will report full year earnings of $3.18 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.25. For the next year, analysts expect that the company will post earnings of $3.52 per share, with EPS estimates ranging from $3.41 to $3.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.24. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. CGI had a net margin of 9.33% and a return on equity of 18.06%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS.

GIB has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of CGI from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, May 3rd. Zacks Investment Research raised shares of CGI from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Scotiabank downgraded shares of CGI from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 17th. Finally, Desjardins downgraded shares of CGI from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CGI presently has a consensus rating of “Buy” and a consensus target price of $72.25.

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of CGI during the 4th quarter worth approximately $3,177,000. Daiwa SB Investments Ltd. bought a new stake in shares of CGI during the 2nd quarter worth approximately $206,000. Barometer Capital Management Inc. bought a new stake in shares of CGI during the 1st quarter worth approximately $6,041,000. Forsta AP Fonden lifted its holdings in shares of CGI by 146.5% during the 1st quarter. Forsta AP Fonden now owns 173,300 shares of the technology company’s stock worth $9,987,000 after acquiring an additional 103,000 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of CGI by 15.1% during the 4th quarter. LPL Financial LLC now owns 8,340 shares of the technology company’s stock worth $453,000 after acquiring an additional 1,091 shares during the period. 60.14% of the stock is owned by institutional investors.

NYSE GIB traded down $0.60 during trading on Wednesday, reaching $64.69. The company’s stock had a trading volume of 4,377 shares, compared to its average volume of 207,702. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $18.16 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.25 and a beta of 0.58. CGI has a 12 month low of $49.35 and a 12 month high of $66.31.

About CGI

CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.

Featured Story: Price to Earnings Ratio (PE) Basics

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

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

Earnings History and Estimates for CGI (NYSE:GIB)

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

Leave a Reply