Zacks: Brokerages Anticipate CGI Inc (NYSE:GIB) to Post $0.95 Earnings Per Share

Analysts expect that CGI Inc (NYSE:GIB) (TSE:GIB.A) will post $0.95 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CGI’s earnings, with estimates ranging from $0.92 to $1.00. CGI reported earnings per share of $0.85 during the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The company is scheduled to issue its next earnings results on Wednesday, January 29th.

On average, analysts expect that CGI will report full year earnings of $3.94 per share for the current financial year, with EPS estimates ranging from $3.87 to $4.09. For the next financial year, analysts expect that the business will report earnings of $4.33 per share, with EPS estimates ranging from $4.24 to $4.57. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, November 6th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.29. CGI had a return on equity of 19.04% and a net margin of 10.43%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business earned $1.09 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year.

A number of brokerages have issued reports on GIB. Desjardins upgraded CGI from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Barclays began coverage on CGI in a report on Friday, September 20th. They set an “overweight” rating and a $90.00 target price on the stock. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Raymond James set a $110.00 target price on CGI and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, CIBC restated a “hold” rating and set a $106.00 target price on shares of CGI in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. CGI presently has a consensus rating of “Buy” and a consensus target price of $95.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. acquired a new position in shares of CGI during the 2nd quarter worth approximately $240,254,000. APG Asset Management N.V. boosted its holdings in shares of CGI by 75.5% during the 2nd quarter. APG Asset Management N.V. now owns 2,257,148 shares of the technology company’s stock valued at $152,711,000 after purchasing an additional 970,800 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of CGI during the 2nd quarter valued at about $30,983,000. JPMorgan Chase & Co. boosted its holdings in shares of CGI by 72.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 907,610 shares of the technology company’s stock valued at $69,614,000 after purchasing an additional 379,801 shares during the last quarter. Finally, National Pension Service bought a new position in shares of CGI during the 2nd quarter valued at about $33,245,000. 55.69% of the stock is currently owned by institutional investors.

GIB traded up $0.26 during midday trading on Tuesday, reaching $82.63. 150,500 shares of the company were exchanged, compared to its average volume of 160,442. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.13. CGI has a one year low of $57.35 and a one year high of $83.64. The stock has a market capitalization of $22.11 billion, a P/E ratio of 23.34, a PEG ratio of 2.24 and a beta of 0.53. The stock’s 50-day simple moving average is $80.65 and its 200 day simple moving average is $78.07.

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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Earnings History and Estimates for CGI (NYSE:GIB)

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