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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Research analysts at National Bank Financial reduced their Q2 2024 EPS estimates for CGI in a report issued on Wednesday, April 17th. National Bank Financial analyst R. Tse now anticipates that the technology company will earn $1.41 per share for the quarter, down from their prior estimate 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 released its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. CGI had a return on equity of 20.65% and a net margin of 11.34%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion.

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

CGI Stock Performance

CGI stock opened at $103.90 on Friday. The business has a 50 day moving average of $112.21 and a 200-day moving average of $106.56. CGI has a 1 year low of $93.07 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market capitalization of $24.14 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.93 and a beta of 0.92.

Institutional Trading of CGI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in CGI by 471.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after purchasing an additional 217 shares during the period. Hexagon Capital Partners LLC increased its position in CGI by 297.1% during 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 period. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of CGI during the 1st quarter worth approximately $30,000. Group One Trading L.P. bought a new position in shares of CGI during the 3rd quarter worth approximately $36,000. Finally, Belpointe Asset Management LLC boosted its holdings in shares of CGI by 2,507.1% during the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock worth $35,000 after buying an additional 351 shares in the last quarter. Institutional investors and hedge funds 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.