FY2024 EPS Estimates for CGI Inc. Cut by Analyst (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Analysts at National Bank Financial reduced their FY2024 EPS estimates for shares of CGI in a research report issued to clients and investors on Wednesday, May 1st. National Bank Financial analyst R. Tse now forecasts that the technology company will post earnings of $5.57 per share for the year, down from their previous forecast of $5.71. The consensus estimate for CGI’s current full-year earnings is $5.59 per share. National Bank Financial also issued estimates for CGI’s FY2025 earnings at $5.89 EPS.

GIB has been the subject of a number of other reports. StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. CIBC dropped their price target on CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a research report on Thursday, May 2nd. Finally, TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd.

CGI Stock Performance

NYSE:GIB opened at $103.10 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $23.95 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. The firm has a 50-day moving average price of $109.36 and a two-hundred day moving average price of $107.08. CGI has a twelve month low of $93.07 and a twelve month high of $118.89.

Institutional Trading of CGI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in CGI by 471.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in CGI by 297.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after buying an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI in the first quarter worth $30,000. Group One Trading L.P. purchased a new position in shares of CGI in the 3rd quarter valued at $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of CGI during the 3rd quarter valued at $41,000. 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.