Topic: How To Invest

The Successful Investor Hotline – Friday, November 8, 2019

Article Excerpt

CGI INC., $106.16, Toronto symbol GIB.A, has already jumped 25% since the start of 2019. Even so, we feel there are more gains ahead which is why it remains our #1 Aggressive buy for 2019. CGI is a leading provider of computer outsourcing services. It helps clients automate routine functions such as accounting and buying supplies. That improves the efficiency of those businesses and lets them focus on their main operations. The company’s revenue in its fiscal 2019 fourth quarter, ended September 30, 2019, improved 5.7%, to $2.96 billion from $2.80 billion a year earlier. That’s due to strong demand for its services, as well as recent acquisitions of smaller firms that enhance its technologies and expand its geographic reach. However, the latest revenue figure missed the consensus forecast of $2.99 billion. The company gets 85% of its revenue from outside of Canada, so if you factor out currency exchange rates, overall revenue in the quarter rose 7.7%. Earnings before unusual items rose 6.3%,…

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