CGI Inc (GIB) Expected to Announce Earnings of $0.90 Per Share

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Wall Street brokerages expect CGI Inc (NYSE:GIB) (TSE:GIB.A) to post $0.90 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for CGI’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.91. CGI posted earnings per share of $0.82 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that CGI will report full-year earnings of $3.55 per share for the current year, with EPS estimates ranging from $3.49 to $3.65. For the next year, analysts expect that the firm will post earnings of $3.81 per share, with EPS estimates ranging from $3.66 to $4.10. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover CGI.

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

A number of research analysts have commented on GIB shares. Zacks Investment Research cut CGI from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Raymond James restated a “buy” rating on shares of CGI in a research note on Tuesday, January 8th. Finally, BMO Capital Markets restated a “buy” rating on shares of CGI in a research note on Wednesday, January 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $79.00.

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of CGI by 5,894.0% during the fourth quarter. Geode Capital Management LLC now owns 277,403 shares of the technology company’s stock worth $16,864,000 after acquiring an additional 272,775 shares during the period. Norges Bank purchased a new stake in shares of CGI during the fourth quarter worth $157,764,000. Nordea Investment Management AB increased its position in shares of CGI by 5.5% during the fourth quarter. Nordea Investment Management AB now owns 221,600 shares of the technology company’s stock worth $18,504,000 after acquiring an additional 11,500 shares during the period. HRT Financial LLC purchased a new stake in shares of CGI during the fourth quarter worth $215,000. Finally, CI Investments Inc. increased its position in shares of CGI by 7.8% during the fourth quarter. CI Investments Inc. now owns 473,200 shares of the technology company’s stock worth $28,955,000 after acquiring an additional 34,200 shares during the period. 57.99% of the stock is currently owned by institutional investors and hedge funds.

NYSE:GIB opened at $67.37 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.14. CGI has a 52 week low of $56.26 and a 52 week high of $68.17. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.10 and a beta of 0.57.

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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