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The Zacks Consensus Estimate for revenues is pegged at $2.65 billion, suggesting an increase of 2.6% from the year-ago quarter’s reported number.
The consensus mark for fiscal second-quarter earnings has remained unchanged at $1.27 per share in the past 30 days, suggesting a year-over-year growth of 4.96%.
CGI beat the Zacks Consensus Estimate for earnings in all of the trailing four quarters, the average surprise being 2.11%.
Let’s see how things are shaping up prior to this announcement.
Factors to Note
CGI’s second-quarter fiscal 2023 performance is expected to have benefited from significant growth in its digital business operations as companies worldwide are going through a digital transformation.
CGI is experiencing a solid demand for its business solutions, as reflected from its expanding partnerships and increasing IP solutions revenues across geographies. The company has been actively investing in the creation of new business solutions to meet evolving demand.
It has been improving its existing solutions with embedded innovation and expanding its IP go-to-market strategies to drive new client interest.
CGI’s plans to increase its presence within government agencies is expected to have supported its performance. Its plans to diversify within its acquisitions by moving toward commercial space is expected to improve scalability.
However, challenging macroeconomic conditions, raging inflation and the dilutive impact of prior-year acquisitions are expected to have hurt the top line.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
CGI currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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CGI Group (GIB) to Report Q2 Earnings: What's in Store?
CGI Group (GIB - Free Report) is scheduled to report second-quarter fiscal 2023 results on Apr 26.
The Zacks Consensus Estimate for revenues is pegged at $2.65 billion, suggesting an increase of 2.6% from the year-ago quarter’s reported number.
The consensus mark for fiscal second-quarter earnings has remained unchanged at $1.27 per share in the past 30 days, suggesting a year-over-year growth of 4.96%.
CGI beat the Zacks Consensus Estimate for earnings in all of the trailing four quarters, the average surprise being 2.11%.
CGI Group, Inc. Price and EPS Surprise
CGI Group, Inc. price-eps-surprise | CGI Group, Inc. Quote
Let’s see how things are shaping up prior to this announcement.
Factors to Note
CGI’s second-quarter fiscal 2023 performance is expected to have benefited from significant growth in its digital business operations as companies worldwide are going through a digital transformation.
CGI is experiencing a solid demand for its business solutions, as reflected from its expanding partnerships and increasing IP solutions revenues across geographies. The company has been actively investing in the creation of new business solutions to meet evolving demand.
It has been improving its existing solutions with embedded innovation and expanding its IP go-to-market strategies to drive new client interest.
CGI’s plans to increase its presence within government agencies is expected to have supported its performance. Its plans to diversify within its acquisitions by moving toward commercial space is expected to improve scalability.
However, challenging macroeconomic conditions, raging inflation and the dilutive impact of prior-year acquisitions are expected to have hurt the top line.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
CGI currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Cloudflare (NET - Free Report) has an Earnings ESP of +12.50% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cloudflare shares are up 38.9% year to date. NET is set to report its first-quarter fiscal 2023 results on Apr 27.
ServiceNow (NOW - Free Report) has an Earnings ESP of +4.34% and a Zacks Rank of 2, at present.
ServiceNow shares are up 21.9% year-to-date. NOW is set to report its first-quarter 2023 results on Apr 26.
NETGEAR (NTGR - Free Report) has an Earnings ESP of +15.79% and a Zacks Rank #2.
NETGEAR shares have declined 3% year-to-date. NTGR is set to report its first-quarter 2023 results on Apr 26.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.