Q3 2024 EPS Estimates for CGI Inc. (NYSE:GIB) Lowered by Desjardins

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities research analysts at Desjardins decreased their Q3 2024 EPS estimates for CGI in a research note issued on Thursday, May 2nd. Desjardins analyst J. Dubreuil now anticipates that the technology company will earn $1.41 per share for the quarter, down from their prior forecast of $1.47. The consensus estimate for CGI’s current full-year earnings is $5.59 per share. Desjardins also issued estimates for CGI’s Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $5.60 EPS and FY2025 earnings at $6.44 EPS.

Several other equities research analysts also recently issued reports on GIB. CIBC cut their price objective on CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a report on Thursday, May 2nd. TD Securities raised shares of CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

CGI Stock Up 0.0 %

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

Hedge Funds Weigh In On CGI

Several hedge funds and other institutional investors have recently made changes to their positions in GIB. Vanguard Group Inc. grew its stake in shares of CGI by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock worth $746,389,000 after purchasing an additional 132,166 shares in the last quarter. Fiera Capital Corp boosted its holdings in CGI by 7.1% in the fourth quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock valued at $439,103,000 after purchasing an additional 272,371 shares in the last quarter. National Bank of Canada FI increased its stake in 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 valued at $385,239,000 after purchasing an additional 129,020 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in CGI by 12.9% during the third quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock worth $348,026,000 after purchasing an additional 401,717 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of CGI during the 4th quarter worth approximately $273,239,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.