$0.82 EPS Expected for CGI Group (GIB) This Quarter

Brokerages expect CGI Group (NYSE:GIB) (TSE:GIB.A) to report earnings per share of $0.82 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for CGI Group’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.89. CGI Group reported earnings per share of $0.68 during the same quarter last year, which indicates a positive year-over-year growth rate of 20.6%. The company is expected to issue its next earnings results before the market opens on Wednesday, May 2nd.

According to Zacks, analysts expect that CGI Group will report full year earnings of $3.35 per share for the current fiscal year, with EPS estimates ranging from $3.18 to $3.47. For the next financial year, analysts forecast that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.57 to $3.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow CGI Group.

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CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. CGI Group’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS.

GIB has been the subject of several research reports. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, February 5th. ValuEngine raised CGI Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Barclays lifted their target price on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. CGI Group presently has an average rating of “Buy” and an average target price of $71.00.

Several institutional investors have recently made changes to their positions in the company. RDL Financial Inc. grew its position in shares of CGI Group by 5.7% during the fourth quarter. RDL Financial Inc. now owns 18,198 shares of the technology company’s stock worth $989,000 after buying an additional 975 shares in the last quarter. Greenleaf Trust grew its position in shares of CGI Group by 97.5% during the fourth quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after buying an additional 995 shares in the last quarter. LPL Financial LLC grew its position in shares of CGI Group by 15.1% during the fourth quarter. LPL Financial LLC now owns 8,340 shares of the technology company’s stock worth $453,000 after buying an additional 1,091 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its position in shares of CGI Group by 0.9% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock worth $7,125,000 after buying an additional 1,115 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of CGI Group by 22.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,151 shares of the technology company’s stock worth $660,000 after buying an additional 2,190 shares in the last quarter. 59.89% of the stock is owned by institutional investors and hedge funds.

NYSE GIB opened at $57.70 on Monday. The stock has a market capitalization of $16,776.90, a price-to-earnings ratio of 20.76, a PEG ratio of 1.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.70. CGI Group has a 1-year low of $46.40 and a 1-year high of $59.89.

CGI Group declared that its Board of Directors has approved a share buyback program on Wednesday, January 31st that authorizes the company to buyback 20,590,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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CGI Group Company Profile

CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.

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Earnings History and Estimates for CGI Group (NYSE:GIB)

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