National Bank Financial Weighs in on CGI Inc.’s Q2 2024 Earnings (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities research analysts at National Bank Financial lowered their Q2 2024 EPS estimates for shares of CGI in a report released on Wednesday, April 17th. National Bank Financial analyst R. Tse now expects that the technology company will post earnings per share of $1.41 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.

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

CGI Stock Performance

Shares of NYSE:GIB opened at $104.01 on Friday. The company has a market capitalization of $24.16 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.92 and a beta of 0.92. The firm’s 50 day simple moving average is $112.00 and its 200 day simple moving average is $106.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. CGI has a fifty-two week low of $93.07 and a fifty-two week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $2.65 billion for 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%.

Institutional Trading of CGI

Several hedge funds have recently bought and sold shares of GIB. Norges Bank acquired a new stake in CGI during the 4th quarter worth approximately $273,239,000. Arrowstreet Capital Limited Partnership bought a new position in shares of CGI during the 1st quarter worth approximately $212,464,000. FMR LLC raised its holdings in shares of CGI by 2,854.5% in the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock valued at $159,884,000 after purchasing an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of CGI by 15.0% in the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after purchasing an additional 805,973 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of CGI in the fourth quarter valued at approximately $85,909,000. 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.