$2.33 Billion in Sales Expected for CGI Inc (GIB) This Quarter

Analysts expect that CGI Inc (NYSE:GIB) (TSE:GIB.A) will report sales of $2.33 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CGI’s earnings. The highest sales estimate is $2.36 billion and the lowest is $2.31 billion. CGI also posted sales of $2.33 billion during the same quarter last year. The business is expected to issue its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that CGI will report full-year sales of $9.10 billion for the current year, with estimates ranging from $9.07 billion to $9.14 billion. For the next financial year, analysts forecast that the company will post sales of $9.43 billion, with estimates ranging from $9.27 billion to $9.51 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. CGI had a return on equity of 18.11% and a net margin of 10.01%. CGI’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS.

A number of brokerages have issued reports on GIB. Zacks Investment Research raised CGI from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Friday, February 1st. BMO Capital Markets reaffirmed a “buy” rating on shares of CGI in a report on Wednesday, January 16th. Finally, Raymond James reaffirmed a “buy” rating on shares of CGI in a report on Tuesday, January 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.00.

Several institutional investors and hedge funds have recently bought and sold shares of GIB. BlackRock Inc. increased its position in shares of CGI by 9.9% during the third quarter. BlackRock Inc. now owns 54,987 shares of the technology company’s stock worth $3,546,000 after purchasing an additional 4,936 shares in the last quarter. AMP Capital Investors Ltd increased its position in shares of CGI by 27.1% during the third quarter. AMP Capital Investors Ltd now owns 136,455 shares of the technology company’s stock worth $8,959,000 after purchasing an additional 29,121 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of CGI by 4.4% during the third quarter. Hsbc Holdings PLC now owns 80,848 shares of the technology company’s stock worth $5,241,000 after purchasing an additional 3,419 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of CGI by 171.0% during the third quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock worth $25,693,000 after purchasing an additional 251,418 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of CGI by 100.0% during the third quarter. Riverhead Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $179,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 58.50% of the company’s stock.

NYSE GIB traded up $0.65 during trading on Friday, reaching $69.83. 12,837 shares of the company’s stock were exchanged, compared to its average volume of 152,041. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.16 and a beta of 0.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.14 and a quick ratio of 0.83. CGI has a 1 year low of $57.16 and a 1 year high of $70.56.

About CGI

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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