Free Post Earnings Research Report: CGI’s Revenues Grew 5.3%; EPS Climbed 10.1%
Stock Monitor: ANGI Homeservices Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on CGI Group Inc. (NYSE: GIB) ("CGI"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GIB. The Company reported its first quarter fiscal 2018 operating and financial results on January 31, 2018. The information technology and business process services Company outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for ANGI Homeservices Inc. (NASDAQ: ANGI), which also belongs to the Technology sector as the Company CGI Group. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CGI Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the first quarter of the fiscal year 2018, CGI reported revenues of C$2.82 billion, representing a growth of 5.3% compared to C$2.68 billion in Q1 FY17. The Company's reported quarter revenues grew 4.9% in constant currency, as foreign exchange fluctuations positively impacted revenue by C$10.1 million. CGI's reported results beat analysts' expectations by C$570 million.
During Q1 FY18, CGI's adjusted earnings before interest and taxes (EBIT) increased to C$406.3 million, representing a margin of 14.4% compared to C$396.7 million, or 14.8%, in Q1 FY17. The Company's earnings before income taxes were C$340.68 million in the reported quarter versus C$375.04 million in the year earlier same quarter.
During Q1 FY18, the Company recorded a net income tax recovery of C$34.10 million, resulting from the re-evaluation of its deferred tax assets and liabilities of C$45.50 million, partially offset by an income tax expense of C$11.40 million in relation to the US repatriation tax.
For Q1 FY18, CGI's net earnings increased to C$285.3 million compared to C$275.7 million in Q1 FY17. The Company's earnings on per diluted share basis advanced 10.1% to C$0.98 compared to C$0.89 in the year earlier same quarter. CGI's net earnings, excluding specific items, were C$288.0 million, or C$0.99 per diluted share, compared to C$277.6 million, or C$0.90 per diluted share, in Q1 FY17. The Company's earnings beat Wall Street's estimates of C$0.78 per share.
Booking Details
During Q1 FY18, CGI's bookings totaled C$3.0 billion, or 105.7% of revenue, with 38% of the contract awards related to new business and 24% were IP-related bookings. On a trailing twelve-month basis, the Company's total awards were C$11.3 billion, or 102.8% of revenue. As of December 31, 2017, CGI's backlog stood at C$21 .1 billion. Over the last 12 months, CGI's total bookings were C$11.3 billion, or 103% of revenue.
Cash Matters
During Q1 FY18, CGI's cash generated from operating activities increased to C$410.1 million, or 14.6% of revenue, compared to C$349.7 million in Q1 FY17. Over the past twelve months, the Company has generated cash of C$1.4 billion, or C$4.76 per diluted share.
At the end of December 2017, the Company had approximately C$1.6 billion in available cash and unused credit facilities. In the reported quarter, the Company reduced its net debt by C$114 million to C$1.6 billion, representing a net debt to capitalization ratio of 19.3%.
Normal Course Issuer Bid
On January 31, 2018, CGI's Board of Directors authorized the renewal of its Normal Course Issuer Bid, which, subject to approval by the Toronto Stock Exchange, allows for the purchase for cancellation of up to 20,595,539 Class A subordinate voting shares over the next 12 months, representing approximately 10% of the Company's public float as of the close of business on January 24, 2018.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, CGI Group's stock slightly rose 0.35%, ending the trading session at $57.96.
Volume traded for the day: 239.62 thousand shares, which was above the 3-month average volume of 202.77 thousand shares.
Stock performance in the last month – up 6.60%; previous three-month period – up 9.42%; past twelve-month period – up 18.45%; and year-to-date – up 6.68%
After yesterday's close, CGI Group's market cap was at $14.68 billion.
Price to Earnings (P/E) ratio was at 20.85.
The stock is part of the Technology sector, categorized under the Internet Software & Services industry. This sector was up 1.8% at the end of the session.
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