$0.93 EPS Expected for CGI Inc (NYSE:GIB) This Quarter

Wall Street brokerages forecast that CGI Inc (NYSE:GIB) (TSE:GIB.A) will post earnings per share (EPS) of $0.93 for the current quarter, Zacks reports. Four analysts have provided estimates for CGI’s earnings, with estimates ranging from $0.90 to $0.97. CGI reported earnings per share of $0.84 during the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The firm is scheduled to report its next quarterly earnings results before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that CGI will report full year earnings of $3.56 per share for the current financial year, with EPS estimates ranging from $3.52 to $3.63. For the next financial year, analysts forecast that the company will report earnings of $3.89 per share, with EPS estimates ranging from $3.77 to $4.13. Zacks’ EPS averages are an average based on a survey of research analysts that cover CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.28. CGI had a return on equity of 18.34% and a net margin of 10.29%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. CGI’s revenue was up 4.0% on a year-over-year basis.

Several research analysts have recently commented on GIB shares. Zacks Investment Research raised CGI from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, June 18th. Bank of America started coverage on CGI in a research note on Thursday, May 23rd. They issued a “buy” rating and a $83.00 price objective on the stock. Finally, CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CGI presently has an average rating of “Buy” and an average target price of $82.75.

GIB stock traded up $0.99 during trading on Thursday, reaching $78.01. The stock had a trading volume of 4,697 shares, compared to its average volume of 139,876. The firm’s 50 day moving average is $75.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 1.16. CGI has a 52 week low of $57.35 and a 52 week high of $78.78. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 2.33 and a beta of 0.54.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc lifted its position in CGI by 2.5% during the third quarter. Vanguard Group Inc now owns 6,414,435 shares of the technology company’s stock worth $413,603,000 after purchasing an additional 156,379 shares during the period. AlphaCrest Capital Management LLC bought a new stake in CGI during the fourth quarter worth about $257,000. Advisor Group Inc. lifted its position in CGI by 7.6% during the fourth quarter. Advisor Group Inc. now owns 8,633 shares of the technology company’s stock worth $529,000 after purchasing an additional 611 shares during the period. Aviva PLC lifted its holdings in shares of CGI by 63.6% in the fourth quarter. Aviva PLC now owns 198,741 shares of the technology company’s stock worth $12,173,000 after acquiring an additional 77,239 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of CGI in the fourth quarter worth about $260,000. 56.76% of the stock is currently owned by hedge funds and other institutional investors.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, 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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