Q3 2024 Earnings Forecast for CGI Inc. Issued By Desjardins (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Equities research analysts at Desjardins lowered their Q3 2024 earnings per share (EPS) estimates for shares of CGI in a research 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 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.

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

CGI Stock Performance

Shares of CGI stock opened at $103.10 on Monday. The business has a 50-day simple moving average of $109.36 and a 200-day simple moving average of $107.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a market cap of $23.95 billion, a PE ratio of 19.87, a P/E/G ratio of 2.39 and a beta of 0.93.

Institutional Trading of CGI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its stake 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 buying an additional 217 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying 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. purchased a new position in CGI in the third quarter worth $36,000. Finally, Quantbot Technologies LP purchased a new stake in shares of CGI during the 3rd quarter worth $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.