CGI Inc. to Post Q2 2024 Earnings of $1.41 Per Share, National Bank Financial Forecasts (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Investment analysts at National Bank Financial cut their Q2 2024 earnings per share (EPS) estimates for shares of CGI in a research note issued on Wednesday, April 17th. National Bank Financial analyst R. Tse now forecasts that the technology company will earn $1.41 per share for the quarter, down from their prior forecast of $1.46. The consensus estimate for CGI’s current full-year earnings is $5.71 per share.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion. CGI had a net margin of 11.34% and a return on equity of 20.65%.

Separately, StockNews.com lowered CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

CGI Trading Up 0.1 %

Shares of GIB stock opened at $104.01 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 firm has a market cap of $24.16 billion, a P/E ratio of 20.27, a PEG ratio of 1.93 and a beta of 0.92. The company has a 50 day moving average of $112.00 and a 200-day moving average of $106.60. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

Institutional Investors Weigh In On CGI

Several institutional investors have recently added to or reduced their stakes in GIB. Vanguard Group Inc. raised its position in shares of CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after purchasing an additional 132,166 shares during the period. Mackenzie Financial Corp raised its holdings in CGI by 15.0% during the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after acquiring an additional 805,973 shares during the period. Fiera Capital Corp lifted its position in shares of CGI by 7.1% during the fourth quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock worth $439,103,000 after acquiring an additional 272,371 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of CGI by 3.6% in the fourth quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock worth $385,239,000 after acquiring an additional 129,020 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of CGI by 12.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock valued at $348,026,000 after purchasing an additional 401,717 shares during the period. 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.