Q3 2024 Earnings Forecast for CGI Inc. (NYSE:GIB) Issued By National Bank Financial

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for CGI in a research report issued on Wednesday, July 17th. National Bank Financial analyst R. Tse now forecasts that the technology company will earn $1.39 per share for the quarter, down from their previous forecast of $1.41. The consensus estimate for CGI’s current full-year earnings is $5.58 per share.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. CGI had a net margin of 11.38% and a return on equity of 20.43%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion.

Several other research firms have also issued reports on GIB. Jefferies Financial Group lifted their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, UBS Group started coverage on shares of CGI in a research report on Friday. They set a “neutral” rating and a $112.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, CGI currently has a consensus rating of “Hold” and an average target price of $132.67.

CGI Stock Down 0.5 %

GIB opened at $105.87 on Friday. The firm has a market capitalization of $24.43 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a fifty day moving average price of $102.06 and a 200-day moving average price of $106.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86.

Institutional Investors Weigh In On CGI

A number of large investors have recently added to or reduced their stakes in GIB. Vanguard Group Inc. increased its position in shares of CGI by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after purchasing an additional 132,166 shares during the last quarter. Assetmark Inc. grew its position in CGI by 6,175.4% during the fourth quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock valued at $383,000 after acquiring an additional 3,520 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of CGI during the fourth quarter worth approximately $1,409,000. Goldman Sachs Group Inc. lifted its holdings in shares of CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock worth $78,818,000 after acquiring an additional 258,651 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of CGI in the 4th quarter worth approximately $954,000. 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.