CGI Inc (NYSE:GIB) Expected to Post Quarterly Sales of $2.27 Billion

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Brokerages expect CGI Inc (NYSE:GIB) (TSE:GIB.A) to announce sales of $2.27 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CGI’s earnings, with the lowest sales estimate coming in at $2.25 billion and the highest estimate coming in at $2.28 billion. CGI posted sales of $2.14 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that CGI will report full-year sales of $9.20 billion for the current fiscal year, with estimates ranging from $9.10 billion to $9.24 billion. For the next financial year, analysts forecast that the business will report sales of $9.73 billion, with estimates ranging from $9.57 billion to $9.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CGI.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). CGI had a return on equity of 18.78% and a net margin of 10.32%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company posted $1.08 EPS. CGI’s quarterly revenue was up 6.1% compared to the same quarter last year.

Several equities analysts recently weighed in on GIB shares. Societe Generale downgraded shares of CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America initiated coverage on CGI in a research report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 price objective on the stock. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, National Bank Financial restated a “buy” rating on shares of CGI in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. CGI presently has a consensus rating of “Buy” and an average target price of $87.67.

Institutional investors have recently added to or reduced their stakes in the business. Bremer Bank National Association purchased a new stake in CGI in the 1st quarter worth approximately $25,000. Zions Bancorporation N.A. purchased a new stake in CGI in the 2nd quarter worth approximately $28,000. Parallel Advisors LLC boosted its position in CGI by 59.0% in the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after purchasing an additional 213 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in CGI by 30.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after purchasing an additional 130 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new stake in CGI in the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

Shares of NYSE:GIB opened at $76.53 on Tuesday. CGI has a twelve month low of $57.35 and a twelve month high of $80.50. The company’s 50 day moving average is $77.89 and its 200 day moving average is $72.57. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35. The company has a market cap of $21.04 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54.

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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