CGI Inc. Expected to Post Q3 2024 Earnings of $1.41 Per Share (NYSE:GIB)

CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A - National Bank Financial issued their Q3 2024 earnings per share estimates for CGI in a report released on Wednesday, May 1st. National Bank Financial analyst R. Tse expects that the technology company will post earnings of $1.41 per share for the quarter. The consensus estimate for CGI's current full-year earnings is $5.69 per share.

A number of other equities research analysts also recently commented on GIB. CIBC decreased their target price on CGI from $169.00 to $165.00 and set an "outperformer" rating on the stock in a research report on Thursday. TD Securities raised shares of CGI from a "hold" rating to a "buy" rating in a report on Thursday. Finally, StockNews.com cut shares of CGI from a "buy" rating to a "hold" rating in a research report on Monday, March 11th.

CGI Price Performance

NYSE:GIB traded up $1.58 on Friday, reaching $103.69. 181,289 shares of the company's stock traded hands, compared to its average volume of 148,403. The stock has a 50-day simple moving average of $110.10 and a 200-day simple moving average of $106.86. CGI has a 12 month low of $93.07 and a 12 month high of $118.89. The firm has a market cap of $24.09 billion, a PE ratio of 19.98, a P/E/G ratio of 2.18 and a beta of 0.93. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its 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. CGI had a net margin of 11.38% and a return on equity of 20.73%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.59 billion.

Institutional Trading of CGI

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CGI by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company's stock worth $746,389,000 after acquiring an additional 132,166 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of CGI by 100.0% during the third quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company's stock valued at $138,450,000 after purchasing an additional 702,339 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of CGI in the fourth quarter worth about $1,409,000. MQS Management LLC grew its holdings in shares of CGI by 26.3% in the third quarter. MQS Management LLC now owns 3,859 shares of the technology company's stock worth $380,000 after purchasing an additional 804 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in CGI by 100.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 8,000 shares of the technology company's stock valued at $858,000 after buying an additional 4,000 shares in the last quarter. 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.