Analysts Set Expectations for CGI Inc.’s Q3 2024 Earnings (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at Stifel Canada issued their Q3 2024 earnings per share (EPS) estimates for shares of CGI in a research note issued on Monday, July 29th. Stifel Canada analyst S. Sukumar forecasts that the technology company will earn $1.39 per share for the quarter. The consensus estimate for CGI’s current full-year earnings is $5.58 per share. Stifel Canada also issued estimates for CGI’s Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $5.64 EPS and FY2025 earnings at $6.25 EPS.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. CGI had a return on equity of 20.33% and a net margin of 11.51%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion.

A number of other brokerages have also recently commented on GIB. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. UBS Group assumed coverage on CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 price objective on the stock. Jefferies Financial Group increased their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CGI currently has a consensus rating of “Hold” and an average price target of $132.67.

CGI Stock Down 2.3 %

Shares of NYSE GIB opened at $108.90 on Thursday. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The business’s fifty day moving average price is $103.04 and its 200-day moving average price is $107.20. The stock has a market capitalization of $25.13 billion, a PE ratio of 20.98, a P/E/G ratio of 2.63 and a beta of 0.95.

Institutional Trading of CGI

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after acquiring an additional 64,037 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of CGI by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after acquiring an additional 79,303 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of CGI by 3.6% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of CGI in the 4th quarter valued at about $273,239,000. Finally, TD Asset Management Inc raised its holdings in shares of CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Hedge funds and other institutional investors 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.