Brokers 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 estimates for shares of CGI in a research report issued on Wednesday, May 1st. National Bank Financial analyst R. Tse forecasts 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.

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

CGI Price Performance

Shares of NYSE GIB opened at $103.68 on Friday. The stock has a market capitalization of $24.09 billion, a PE ratio of 19.98, a P/E/G ratio of 2.32 and a beta of 0.93. CGI has a fifty-two week low of $93.07 and a fifty-two week 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 has a fifty day moving average price of $109.85 and a two-hundred day moving average price of $106.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GIB. Norges Bank bought a new stake in shares of CGI during the 4th quarter valued at approximately $273,239,000. FMR LLC grew its stake in shares of CGI by 2,854.5% during the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock worth $159,884,000 after buying an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of CGI by 15.0% during the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock worth $598,239,000 after buying an additional 805,973 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of CGI during the fourth quarter worth $85,909,000. Finally, Bank of Nova Scotia lifted its stake in shares of CGI by 100.0% in the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock valued at $138,450,000 after acquiring an additional 702,339 shares during 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.