Wall Street brokerages expect CGI Inc (NYSE:GIB) (TSE:GIB.A) to report sales of $2.35 billion for the current quarter, according to Zacks. Four analysts have made estimates for CGI’s earnings. The highest sales estimate is $2.37 billion and the lowest is $2.33 billion. CGI posted sales of $2.28 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The company is expected to announce its next quarterly earnings results on Wednesday, August 7th.
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 company will report sales of $9.60 billion, with estimates ranging from $9.51 billion to $9.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CGI.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.28. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.06 billion. CGI had a return on equity of 18.34% and a net margin of 10.29%. CGI’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share.
A number of equities research analysts recently commented on GIB shares. Zacks Investment Research lowered CGI from a “hold” rating to a “sell” rating in a research report on Monday, January 28th. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Finally, Bank of America assumed coverage on CGI in a research report on Thursday. They issued a “buy” rating and a $83.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $80.00.
Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC increased its stake in shares of CGI by 53.7% in the 4th quarter. Hsbc Holdings PLC now owns 124,288 shares of the technology company’s stock worth $7,587,000 after acquiring an additional 43,440 shares during the last quarter. Vanguard Group Inc increased its stake in shares of CGI by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 6,414,435 shares of the technology company’s stock worth $413,603,000 after acquiring an additional 156,379 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of CGI by 15.2% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,714,100 shares of the technology company’s stock worth $143,127,000 after acquiring an additional 225,600 shares during the last quarter. Henry James International Management Inc. increased its stake in shares of CGI by 53.6% in the 1st quarter. Henry James International Management Inc. now owns 106,127 shares of the technology company’s stock worth $7,297,000 after acquiring an additional 37,047 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of CGI by 171.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock worth $25,693,000 after acquiring an additional 251,418 shares during the last quarter. 56.79% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE GIB opened at $73.17 on Tuesday. The company has a market capitalization of $20.09 billion, a P/E ratio of 22.79, a PEG ratio of 2.30 and a beta of 0.57. CGI has a 52 week low of $57.35 and a 52 week high of $73.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 1.16.
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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