Brokerages forecast that CGI Group Inc (NYSE:GIB) (TSE:GIB.A) will post earnings of $0.82 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CGI Group’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.89. CGI Group posted earnings of $0.68 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.6%. The firm is scheduled to report its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that CGI Group will report full year earnings of $3.36 per share for the current year, with EPS estimates ranging from $3.18 to $3.47. For the next year, analysts forecast that the firm will report earnings of $3.68 per share, with EPS estimates ranging from $3.58 to $3.85. Zacks Investment Research’s EPS calculations are an 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 data on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share.
Several research firms recently commented on GIB. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, February 5th. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Barclays upped their target price on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Scotiabank upped 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.00.
CGI Group (GIB) opened at $58.32 on Friday. The company has a market capitalization of $14,880.00, a price-to-earnings ratio of 21.13, a P/E/G ratio of 1.93 and a beta of 0.77. CGI Group has a 12 month low of $45.81 and a 12 month high of $59.20. 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 announced that its Board of Directors has approved a stock buyback program on Wednesday, January 31st that permits the company to buyback 20,590,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently made changes to their positions in the business. Jarislowsky Fraser Ltd increased its stake in CGI Group by 19.8% during the third quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after acquiring an additional 1,366,578 shares during the last quarter. Guardian Capital LP increased its stake in CGI Group by 1.9% during the third quarter. Guardian Capital LP now owns 3,369,589 shares of the technology company’s stock worth $174,262,000 after acquiring an additional 64,252 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in CGI Group by 58.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock worth $180,133,000 after acquiring an additional 1,219,578 shares during the last quarter. TD Asset Management Inc. increased its stake in CGI Group by 19.5% during the third quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock worth $165,217,000 after acquiring an additional 520,675 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in CGI Group by 13.2% during the third quarter. Great West Life Assurance Co. Can now owns 2,857,687 shares of the technology company’s stock worth $147,850,000 after acquiring an additional 333,856 shares during the last quarter. Institutional investors own 57.97% of the company’s stock.
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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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