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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities researchers at Raymond James cut their Q3 2024 EPS estimates for shares of CGI in a research note issued to investors on Wednesday, May 1st. Raymond James analyst S. Li now forecasts that the technology company will earn $1.39 per share for the quarter, down from their previous forecast of $1.42. The consensus estimate for CGI’s current full-year earnings is $5.59 per share. Raymond James also issued estimates for CGI’s Q4 2024 earnings at $1.39 EPS, FY2024 earnings at $5.56 EPS and FY2025 earnings at $6.07 EPS.

Other equities research analysts have also recently issued research reports about the stock. TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research note on Thursday. CIBC dropped their price objective on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a research note on Thursday. Finally, StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Price Performance

NYSE GIB opened at $103.68 on Monday. CGI has a 12 month low of $93.07 and a 12 month high of $118.89. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.36 and a beta of 0.93. The company’s 50 day moving average is $109.85 and its two-hundred day moving average is $107.01. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

Institutional Trading of CGI

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position 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. Hexagon Capital Partners LLC increased its holdings in shares of CGI by 297.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after acquiring an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of CGI during the first quarter valued at about $30,000. Group One Trading L.P. acquired a new position in CGI in the 3rd quarter worth approximately $36,000. Finally, Quantbot Technologies LP acquired a new position in CGI in the 3rd quarter worth approximately $41,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

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.