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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Analysts at National Bank Financial lowered their Q2 2024 EPS estimates for shares of CGI in a research note issued on Wednesday, April 17th. National Bank Financial analyst R. Tse now expects 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 announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion.

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

CGI Trading Down 0.6 %

Shares of GIB stock opened at $103.90 on Friday. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a fifty day moving average of $112.21 and a 200-day moving average of $106.56.

Institutional Investors Weigh In On CGI

Several large investors have recently made changes to their positions in GIB. Norges Bank bought a new stake in shares of CGI in the 4th quarter worth about $273,239,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of CGI in the 1st quarter worth about $212,464,000. FMR LLC grew its holdings in shares of CGI by 2,854.5% in the 3rd quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock worth $159,884,000 after purchasing an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of CGI by 15.0% in the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock worth $598,239,000 after purchasing an additional 805,973 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of CGI in the 4th quarter worth about $85,909,000. 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.