Zacks: Analysts Expect CGI Inc. (NYSE:GIB) Will Post Earnings of $1.06 Per Share

Equities analysts predict that CGI Inc. (NYSE:GIB) (TSE:GIB.A) will announce earnings per share (EPS) of $1.06 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CGI’s earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $1.00. CGI posted earnings of $0.92 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 15.2%. The company is expected to report its next earnings report on Wednesday, November 10th.

According to Zacks, analysts expect that CGI will report full-year earnings of $4.28 per share for the current financial year, with EPS estimates ranging from $4.22 to $4.34. For the next fiscal year, analysts forecast that the firm will report earnings of $4.64 per share, with EPS estimates ranging from $4.42 to $4.76. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Tuesday, July 27th. The technology company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.29. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.46 billion. CGI had a net margin of 10.61% and a return on equity of 19.58%.

Several equities analysts recently commented on GIB shares. National Bank Financial upped their price target on shares of CGI from C$120.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Zacks Investment Research raised shares of CGI from a “sell” rating to a “hold” rating in a report on Monday, July 26th. Bank of America cut shares of CGI from a “buy” rating to an “underperform” rating and increased their target price for the stock from $93.00 to $95.00 in a report on Tuesday. Royal Bank of Canada increased their target price on shares of CGI from C$120.00 to C$125.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Scotiabank increased their target price on shares of CGI from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $118.17.

Shares of NYSE:GIB traded down $0.76 on Friday, hitting $88.06. The company had a trading volume of 258,256 shares, compared to its average volume of 140,473. CGI has a 1-year low of $60.58 and a 1-year high of $93.06. The stock has a market cap of $21.83 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 2.59 and a beta of 1.03. The stock has a 50 day moving average price of $90.06 and a 200 day moving average price of $87.96. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in shares of CGI by 519.6% during the 2nd quarter. Marshall Wace LLP now owns 83,023 shares of the technology company’s stock worth $7,536,000 after buying an additional 69,623 shares during the period. Morgan Stanley grew its position in shares of CGI by 28.4% during the 2nd quarter. Morgan Stanley now owns 326,041 shares of the technology company’s stock worth $29,539,000 after buying an additional 72,083 shares during the period. Wells Fargo & Company MN grew its position in shares of CGI by 370.9% during the 2nd quarter. Wells Fargo & Company MN now owns 76,664 shares of the technology company’s stock worth $6,955,000 after buying an additional 60,382 shares during the period. Guardian Capital Advisors LP grew its position in shares of CGI by 21.5% during the 2nd quarter. Guardian Capital Advisors LP now owns 18,883 shares of the technology company’s stock worth $1,726,000 after buying an additional 3,340 shares during the period. Finally, Border to Coast Pensions Partnership Ltd acquired a new stake in shares of CGI during the 2nd quarter worth approximately $16,355,929,000. 51.93% of the stock is owned by institutional investors and hedge funds.

About CGI

CGI, Inc engages in the provision of information technology (IT) and consulting services. It operates through the following segments: Northern Europe, Canada, France, U.S. Commercial and State Government, U.S. Federal, U.K., Eastern, Central and Southern Europe (ECS) and Asia Pacific Global Delivery Centers of Excellence (APC).

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Earnings History and Estimates for CGI (NYSE:GIB)

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