CI&T (NYSE:CINT) Shares Gap Down Following Weak Earnings

CI&T Inc. (NYSE:CINT)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $6.21, but opened at $5.82. CI&T shares last traded at $5.80, with a volume of 234,534 shares.

The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The firm had revenue of $110.88 million for the quarter, compared to analyst estimates of $111.48 million. During the same period last year, the business earned $0.30 earnings per share.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CINT shares. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 target price on shares of CI&T in a research report on Monday, March 17th. Wedbush set a $9.00 price target on shares of CI&T in a research note on Monday, February 3rd. Finally, Citigroup initiated coverage on shares of CI&T in a research note on Friday, April 25th. They set a “buy” rating and a $7.00 price target for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.26.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. WCM Investment Management LLC raised its stake in shares of CI&T by 3.2% in the fourth quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock valued at $8,747,000 after acquiring an additional 45,574 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of CI&T in the fourth quarter valued at approximately $3,036,000. Renaissance Technologies LLC raised its stake in shares of CI&T by 110.0% in the fourth quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock valued at $678,000 after acquiring an additional 58,500 shares during the last quarter. Marshall Wace LLP raised its stake in shares of CI&T by 134.4% in the fourth quarter. Marshall Wace LLP now owns 88,142 shares of the company’s stock valued at $535,000 after acquiring an additional 50,543 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. bought a new position in shares of CI&T in the fourth quarter valued at approximately $152,000. Institutional investors own 92.45% of the company’s stock.

CI&T Stock Up 4.8%

The business’s 50 day moving average price is $5.73 and its 200-day moving average price is $6.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $876.78 million, a P/E ratio of 50.08 and a beta of 1.24.

About CI&T

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.