Zacks: Brokerages Expect CGI Inc (NYSE:GIB) to Post $0.94 Earnings Per Share

Brokerages predict that CGI Inc (NYSE:GIB) (TSE:GIB.A) will post $0.94 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CGI’s earnings. The lowest EPS estimate is $0.92 and the highest is $0.97. CGI posted earnings of $0.83 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that CGI will report full-year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.53 to $3.61. For the next fiscal year, analysts forecast that the company will post earnings of $3.91 per share, with EPS estimates ranging from $3.77 to $4.19. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). CGI had a net margin of 10.29% and a return on equity of 18.34%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.

Several analysts recently commented on GIB shares. Bank of America started coverage on shares of CGI in a research note on Thursday, May 23rd. They set a “buy” rating and a $83.00 target price for the company. National Bank Financial reissued a “buy” rating on shares of CGI in a research note on Wednesday. Societe Generale lowered shares of CGI from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research note on Wednesday, June 26th. Finally, CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $82.75.

GIB stock opened at $77.18 on Friday. CGI has a 12 month low of $57.35 and a 12 month high of $80.50. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.38 and a beta of 0.54. The company’s 50 day simple moving average is $77.89. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Large investors have recently modified their holdings of the stock. Bremer Bank National Association purchased a new stake in shares of CGI in the 1st quarter valued at approximately $25,000. Zions Bancorporation N.A. purchased a new stake in shares of CGI in the 2nd quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in shares of CGI by 59.0% in the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock valued at $39,000 after acquiring an additional 213 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of CGI in the 1st quarter valued at approximately $54,000. Finally, Bartlett & Co. LLC purchased a new stake in shares of CGI in the 1st quarter valued at approximately $56,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

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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