Analysts Expect CGI Inc. (NYSE:GIB) Will Post Quarterly Sales of $2.52 Billion


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Wall Street analysts expect CGI Inc. (NYSE:GIB) (TSE:GIB.A) to report $2.52 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CGI’s earnings. CGI reported sales of $2.20 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The firm is expected to issue its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that CGI will report full year sales of $9.84 billion for the current year, with estimates ranging from $9.80 billion to $9.87 billion. For the next financial year, analysts anticipate that the company will report sales of $10.19 billion, with estimates ranging from $10.15 billion to $10.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Tuesday, April 27th. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.32. CGI had a net margin of 9.20% and a return on equity of 18.58%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was down 1.7% compared to the same quarter last year.

Several analysts recently issued reports on the stock. Raymond James increased their price target on shares of CGI from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. CIBC increased their price target on shares of CGI from $105.50 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. Societe Generale upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Monday, April 12th. Scotiabank increased their price target on shares of CGI from $112.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Finally, Edward Jones upgraded shares of CGI from a “hold” rating to a “buy” rating in a research report on Wednesday, March 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $113.10.

Hedge funds have recently added to or reduced their stakes in the company. Guardian Capital LP raised its stake in shares of CGI by 1.5% during the fourth quarter. Guardian Capital LP now owns 1,677,953 shares of the technology company’s stock valued at $133,011,000 after acquiring an additional 25,058 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of CGI by 66.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 233,827 shares of the technology company’s stock valued at $18,547,000 after acquiring an additional 93,733 shares during the last quarter. Oxler Private Wealth LLC bought a new position in shares of CGI during the fourth quarter valued at $618,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of CGI by 510.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,743 shares of the technology company’s stock valued at $853,000 after acquiring an additional 8,982 shares during the last quarter. Finally, Credit Suisse AG raised its stake in shares of CGI by 2.3% during the fourth quarter. Credit Suisse AG now owns 545,357 shares of the technology company’s stock valued at $43,253,000 after acquiring an additional 12,266 shares during the last quarter. 51.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GIB traded up $0.38 during trading hours on Friday, hitting $89.26. 10,100 shares of the stock were exchanged, compared to its average volume of 145,606. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.35. The company has a market cap of $22.65 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.03. The company’s fifty day simple moving average is $84.31 and its two-hundred day simple moving average is $77.36. CGI has a 1-year low of $58.60 and a 1-year high of $89.61.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Earnings History and Estimates for CGI (NYSE:GIB)

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