Zacks: Brokerages Anticipate CGI Group, Inc. (GIB) Will Post Earnings of $0.72 Per Share

Brokerages expect CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) to post earnings per share of $0.72 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for CGI Group’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.59. CGI Group posted earnings per share of $0.68 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The company is expected to announce its next earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that CGI Group will report full-year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.96. For the next year, analysts anticipate that the firm will post earnings of $3.14 per share, with EPS estimates ranging from $2.79 to $3.34. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CGI Group.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.01. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

A number of research analysts have recently commented on GIB shares. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Barclays PLC reiterated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a report on Wednesday. BidaskClub lowered CGI Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Beacon Securities reiterated a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CGI Group presently has an average rating of “Buy” and an average target price of $61.00.

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Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in CGI Group by 38.4% in the first quarter. Morgan Stanley now owns 596,523 shares of the technology company’s stock worth $28,592,000 after buying an additional 165,506 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in CGI Group by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 631,494 shares of the technology company’s stock worth $30,248,000 after buying an additional 1,731 shares in the last quarter. World Asset Management Inc boosted its stake in CGI Group by 0.8% in the first quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock worth $806,000 after buying an additional 134 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in CGI Group by 0.5% in the first quarter. State of Wisconsin Investment Board now owns 203,114 shares of the technology company’s stock worth $9,704,000 after buying an additional 1,100 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after buying an additional 550,382 shares in the last quarter. Institutional investors and hedge funds own 63.36% of the company’s stock.

CGI Group (GIB) traded up 0.71% during mid-day trading on Wednesday, hitting $49.55. 138,626 shares of the stock were exchanged. The company has a market cap of $14.63 billion, a P/E ratio of 17.27 and a beta of 0.93. CGI Group has a one year low of $45.73 and a one year high of $53.65. The company has a 50-day moving average price of $51.68 and a 200-day moving average price of $49.06.

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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Earnings History and Estimates for CGI Group (NYSE:GIB)

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