$2.17 Billion in Sales Expected for CGI Group Inc (GIB) This Quarter

Analysts forecast that CGI Group Inc (NYSE:GIB) (TSE:GIB.A) will post $2.17 billion in sales for the current fiscal quarter, according to Zacks. 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 during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The company is scheduled to report its next 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 year, with estimates ranging from $8.81 billion to $9.03 billion. For the next year, analysts expect that the company will report sales of $9.20 billion per share, with estimates ranging from $9.11 billion to $9.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow CGI Group.

GIB has been the topic of several analyst reports. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, October 4th. Scotiabank lifted their target price on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CGI Group presently has a consensus rating of “Buy” and a consensus target price of $68.75.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lincoln National Corp lifted its position in shares of CGI Group by 3.4% during the 2nd quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock valued at $407,000 after buying an additional 263 shares during the last quarter. Advisor Group Inc. lifted its position in shares of CGI Group by 21.2% during the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of CGI Group by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock valued at $427,000 after buying an additional 837 shares during the last quarter. Regentatlantic Capital LLC lifted its position in shares of CGI Group by 1.6% during the 3rd quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock valued at $3,192,000 after buying an additional 960 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its position in shares of CGI Group by 14.6% during the 3rd quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock valued at $725,000 after buying an additional 1,784 shares during the last quarter. 66.66% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group (GIB) opened at $53.37 on Wednesday. The stock has a market capitalization of $13,641.91, a P/E ratio of 19.22, a P/E/G ratio of 1.89 and a beta of 0.87. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.29. CGI Group has a 1 year low of $45.81 and a 1 year high of $54.64.

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CGI Group Company Profile

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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