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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities research analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for CGI in a note issued to investors on Wednesday, May 1st. National Bank Financial analyst R. Tse anticipates that the technology company will post earnings per share of $1.41 for the quarter. The consensus estimate for CGI’s current full-year earnings is $5.69 per share.

Several other research firms also recently weighed in on GIB. TD Securities raised shares of CGI from a “hold” rating to a “buy” rating in a research note on Thursday. CIBC reduced their target price on CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a research note on Thursday. Finally, StockNews.com downgraded CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Stock Up 1.5 %

CGI stock opened at $103.69 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $24.09 billion, a PE ratio of 19.98, a PEG ratio of 2.18 and a beta of 0.93. The firm’s fifty day moving average is $110.10 and its 200 day moving average is $106.86. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. CGI had a net margin of 11.38% and a return on equity of 20.73%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion.

Institutional Trading of CGI

Hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its holdings in shares of CGI by 471.7% during the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after buying an additional 217 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in CGI during the 3rd quarter valued at about $394,000. Bank of New York Mellon Corp increased its holdings in CGI by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 278,213 shares of the technology company’s stock worth $27,401,000 after purchasing an additional 3,153 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CGI by 10.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,762 shares of the technology company’s stock worth $4,135,000 after purchasing an additional 3,881 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of CGI by 15.0% in the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after purchasing an additional 805,973 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

About CGI

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.