Analysts expect CGI Group Inc (NYSE:GIB) (TSE:GIB.A) to report sales of $2.17 billion for the current quarter, Zacks reports. Five analysts have made estimates for CGI Group’s earnings, with the highest sales estimate coming in at $2.22 billion and the lowest estimate coming in at $2.13 billion. CGI Group posted sales of $2.00 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that CGI Group will report full-year sales of $2.17 billion for the current fiscal year, with estimates ranging from $8.81 billion to $9.03 billion. For the next financial year, analysts anticipate that the business will post sales of $9.20 billion per share, with estimates ranging from $9.11 billion to $9.33 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover CGI Group.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $85.00 target price (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. BidaskClub downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Scotiabank lifted their target price on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Barclays reissued an “overweight” rating and set a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $68.75.
Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its stake in CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after acquiring an additional 380 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new stake in CGI Group in the 2nd quarter worth approximately $203,000. Marshall Wace North America L.P. bought a new stake in CGI Group in the 2nd quarter worth approximately $214,000. Intercontinental Wealth Advisors LLC bought a new stake in CGI Group in the 2nd quarter worth approximately $217,000. Finally, Checchi Capital Advisers LLC bought a new stake in CGI Group in the 2nd quarter worth approximately $221,000. 57.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of CGI Group (NYSE:GIB) traded up $0.04 on Friday, reaching $52.80. The company had a trading volume of 92,738 shares, compared to its average volume of 175,334. The company has a market cap of $13,470.00, a P/E ratio of 19.02, a PEG ratio of 1.87 and a beta of 0.87. CGI Group has a 52 week low of $45.81 and a 52 week high of $54.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 0.72.
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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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