Brokerages expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to announce sales of $2.31 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CGI Group’s earnings, with the highest sales estimate coming in at $2.39 billion and the lowest estimate coming in at $2.24 billion. CGI Group reported sales of $2.06 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.1%. The firm is expected to report its next 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 financial year, with estimates ranging from $9.12 billion to $9.39 billion. For the next financial year, analysts forecast that the firm will post sales of $9.51 billion per share, with estimates ranging from $9.42 billion to $9.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CGI Group.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued 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 firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the business earned $0.90 EPS. The company’s revenue was up 5.3% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Guardian Capital LP grew its position in shares of CGI Group by 1.9% in the 3rd quarter. Guardian Capital LP now owns 3,369,589 shares of the technology company’s stock valued at $174,262,000 after acquiring an additional 64,252 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of CGI Group by 58.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock valued at $180,133,000 after acquiring an additional 1,219,578 shares during the period. TD Asset Management Inc. grew its position in shares of CGI Group by 19.5% in the 3rd quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock valued at $165,217,000 after acquiring an additional 520,675 shares during the period. Great West Life Assurance Co. Can grew its position in shares of CGI Group by 13.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,857,687 shares of the technology company’s stock valued at $147,850,000 after acquiring an additional 333,856 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of CGI Group by 17.5% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,452,800 shares of the technology company’s stock valued at $99,226,000 after acquiring an additional 216,719 shares during the period. 59.79% of the stock is owned by institutional investors.
Shares of CGI Group (NYSE:GIB) opened at $58.74 on Thursday. 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 has a 52 week low of $46.27 and a 52 week high of $59.89. The stock has a market cap of $16,894.96, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.
CGI Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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.
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