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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – National Bank Financial dropped their FY2024 earnings estimates for shares of CGI in a report released on Wednesday, May 1st. National Bank Financial analyst R. Tse now expects that the technology company will post earnings of $5.57 per share for the year, down from their previous estimate 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.

Other analysts have also recently issued research reports about the stock. 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. TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Stock Performance

Shares of GIB stock opened at $103.68 on Monday. The company has a market capitalization 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 has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The company has a 50-day simple moving average of $109.85 and a 200 day simple moving average of $107.01. CGI has a 52 week low of $93.07 and a 52 week high of $118.89.

Hedge Funds Weigh In On CGI

A number of institutional investors have recently added to or reduced their stakes in the stock. Janiczek Wealth Management LLC increased its position in CGI by 4.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock worth $358,000 after purchasing an additional 143 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in CGI by 3.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,059 shares of the technology company’s stock worth $400,000 after purchasing an additional 146 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in CGI by 0.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock worth $3,418,000 after purchasing an additional 149 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in CGI by 6.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,477 shares of the technology company’s stock worth $244,000 after purchasing an additional 158 shares in the last quarter. Finally, CWM LLC increased its position in CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after purchasing an additional 190 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.