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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Stock analysts at National Bank Financial reduced their FY2024 EPS estimates for CGI in a research note issued to investors on Wednesday, May 1st. National Bank Financial analyst R. Tse now anticipates that the technology company will post earnings of $5.57 per share for the year, down from their prior 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.

A number of other research analysts have also recently commented on GIB. CIBC cut their price target on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a research note on Thursday, May 2nd. StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd.

CGI Stock Performance

NYSE GIB opened at $103.70 on Monday. The company’s fifty day moving average is $109.62 and its two-hundred day moving average is $107.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.39 and a beta of 0.93.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in CGI by 471.7% in the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after acquiring an additional 217 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of CGI by 297.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of CGI in the 1st quarter valued at about $30,000. Group One Trading L.P. acquired a new stake in shares of CGI during the 3rd quarter worth approximately $36,000. Finally, Quantbot Technologies LP bought a new stake in shares of CGI during the third quarter worth approximately $41,000. Institutional investors own 66.68% of the company’s stock.

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.