Equities Analysts Issue Forecasts for CGI Inc.’s Q3 2024 Earnings (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of CGI in a research report issued on Wednesday, May 1st. National Bank Financial analyst R. Tse anticipates that the technology company will earn $1.41 per share for the quarter. The consensus estimate for CGI’s current full-year earnings is $5.68 per share.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. CGI had a net margin of 11.38% and a return on equity of 20.43%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.59 billion.

Several other brokerages have also commented on GIB. StockNews.com lowered CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday. Finally, CIBC cut their price target on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a report on Thursday.

CGI Stock Up 1.5 %

Shares of CGI stock opened at $103.68 on Friday. The firm’s 50 day moving average price is $109.85 and its 200-day moving average price is $106.89. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The company has a market cap of $24.09 billion, a P/E ratio of 19.98, a PEG ratio of 2.32 and a beta of 0.93.

Institutional Investors Weigh In On CGI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CGI by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock worth $746,389,000 after purchasing an additional 132,166 shares during the period. Mackenzie Financial Corp raised its position in shares of CGI by 15.0% during the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after buying an additional 805,973 shares during the period. Fiera Capital Corp raised its position in shares of CGI by 7.1% during the 4th quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock valued at $439,103,000 after buying an additional 272,371 shares during the period. National Bank of Canada FI lifted its holdings in CGI by 3.6% in the fourth quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock valued at $385,239,000 after acquiring an additional 129,020 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in CGI by 12.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock worth $348,026,000 after acquiring an additional 401,717 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.