Desjardins Equities Analysts Reduce Earnings Estimates for CGI (GIB)

CGI (NYSE:GIB) (TSE:GIB.A) – Research analysts at Desjardins reduced their FY2019 EPS estimates for CGI in a research note issued to investors on Tuesday, October 30th. Desjardins analyst M. Yaghi now expects that the technology company will post earnings of $3.64 per share for the year, down from their prior estimate of $3.66. Desjardins currently has a “Buy” rating on the stock.

Several other brokerages have also recently issued reports on GIB. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays increased their target price on CGI from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Finally, Scotiabank cut CGI from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CGI currently has a consensus rating of “Buy” and a consensus target price of $73.75.

Shares of NYSE GIB opened at $61.30 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.24. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.94 and a beta of 0.61. CGI has a 12-month low of $51.16 and a 12-month high of $66.53.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.24. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.98 billion. CGI had a return on equity of 18.06% and a net margin of 9.33%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS.

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its stake in CGI by 4.2% in the 3rd quarter. Creative Planning now owns 23,384 shares of the technology company’s stock worth $1,508,000 after acquiring an additional 946 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in CGI by 11.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 14,745 shares of the technology company’s stock worth $951,000 after acquiring an additional 1,460 shares during the last quarter. Commonwealth Bank of Australia raised its stake in CGI by 6.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 27,288 shares of the technology company’s stock worth $1,724,000 after acquiring an additional 1,619 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in CGI in the 2nd quarter worth $124,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in CGI by 37.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 11,421 shares of the technology company’s stock worth $723,000 after acquiring an additional 3,140 shares during the last quarter. Hedge funds and other institutional investors 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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