CGI Inc. (NYSE:GIB) Expected to Post FY2024 Earnings of $5.46 Per Share

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Raymond James lowered their FY2024 earnings per share (EPS) estimates for CGI in a research report issued on Wednesday, July 31st. Raymond James analyst S. Li now anticipates that the technology company will post earnings of $5.46 per share for the year, down from their previous forecast of $5.56. The consensus estimate for CGI’s current full-year earnings is $5.53 per share. Raymond James also issued estimates for CGI’s Q4 2024 earnings at $1.36 EPS and FY2025 earnings at $6.03 EPS.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.02. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%.

GIB has been the topic of a number of other reports. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. UBS Group began coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Finally, CIBC lowered shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.67.

CGI Trading Down 2.3 %

Shares of GIB opened at $108.91 on Friday. CGI has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.59 and a beta of 0.95. The firm has a 50 day moving average price of $103.04 and a 200-day moving average price of $107.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc lifted its position in CGI by 2.0% during the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock valued at $219,873,000 after buying an additional 43,355 shares during the period. Fiera Capital Corp boosted its stake in CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after acquiring an additional 79,303 shares in the last quarter. Versor Investments LP purchased a new stake in CGI in the second quarter worth about $340,000. Farther Finance Advisors LLC increased its stake in shares of CGI by 8.5% during the second quarter. Farther Finance Advisors LLC now owns 6,453 shares of the technology company’s stock valued at $639,000 after purchasing an additional 505 shares in the last quarter. Finally, Nicola Wealth Management LTD. lifted its holdings in shares of CGI by 107.9% during the second quarter. Nicola Wealth Management LTD. now owns 138,900 shares of the technology company’s stock valued at $13,864,000 after purchasing an additional 72,100 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

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.