$2.10 Billion in Sales Expected for CGI (GIB) This Quarter

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Equities research analysts predict that CGI (NYSE:GIB) (TSE:GIB.A) will post $2.10 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for CGI’s earnings, with the lowest sales estimate coming in at $2.05 billion and the highest estimate coming in at $2.15 billion. CGI reported sales of $2.08 billion in the same quarter last year, which indicates a positive year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, November 7th.

On average, analysts expect that CGI will report full-year sales of $8.80 billion for the current year, with estimates ranging from $8.73 billion to $8.85 billion. For the next financial year, analysts forecast that the business will report sales of $9.08 billion, with estimates ranging from $9.02 billion to $9.16 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for CGI.

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

A number of analysts have weighed in on the company. Scotiabank lowered CGI from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 17th. Desjardins lowered CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded CGI from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, October 10th. Finally, Barclays increased their target price on CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.75.

NYSE:GIB traded up $1.37 during midday trading on Wednesday, hitting $61.07. 24,306 shares of the company traded hands, compared to its average volume of 195,297. CGI has a 12-month low of $51.16 and a 12-month high of $66.53. The firm has a market capitalization of $16.45 billion, a PE ratio of 21.99, a PEG ratio of 1.82 and a beta of 0.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.68 and a current ratio of 0.99.

A number of hedge funds have recently added to or reduced their stakes in GIB. Tower Research Capital LLC TRC purchased a new stake in CGI in the second quarter worth $124,000. Daiwa SB Investments Ltd. purchased a new position in shares of CGI during the second quarter valued at $206,000. WCM Investment Management CA purchased a new position in shares of CGI during the second quarter valued at $212,000. AE Wealth Management LLC purchased a new position in shares of CGI during the second quarter valued at $268,000. Finally, Dean Capital Investments Management LLC purchased a new position in shares of CGI during the second quarter valued at $397,000. Institutional investors and hedge funds own 58.63% of the company’s stock.

CGI Company Profile

CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.

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Earnings History and Estimates for CGI (NYSE:GIB)

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