Q3 2024 EPS Estimates for CGI Inc. (NYSE:GIB) Decreased by Analyst

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Stock analysts at Desjardins decreased their Q3 2024 earnings per share (EPS) estimates for shares of CGI in a note issued to investors on Thursday, May 2nd. Desjardins analyst J. Dubreuil now anticipates that the technology company will post earnings per share of $1.41 for the quarter, down from their prior estimate 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.

GIB has been the topic of a number of other reports. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. CIBC cut their target price on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Stock Down 0.6 %

Shares of CGI stock opened at $103.10 on Monday. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.39 and a beta of 0.93. The stock’s 50-day moving average is $109.36 and its 200 day moving average is $107.08. 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 one year low of $93.07 and a one year high of $118.89.

Institutional Investors Weigh In On CGI

A number of hedge funds have recently added to or reduced their stakes in GIB. Exchange Traded Concepts LLC raised its position in shares of CGI by 471.7% during the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares during the period. Hexagon Capital Partners LLC increased its stake 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 in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in CGI during the first quarter worth $30,000. Group One Trading L.P. bought a new position in shares of CGI in the third quarter valued at $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of CGI during the third quarter valued at about $41,000. Institutional investors and hedge funds 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.