FY2024 EPS Estimates for CGI Inc. Cut by National Bank Financial (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Stock analysts at National Bank Financial cut their FY2024 EPS estimates for CGI in a report released on Wednesday, May 1st. National Bank Financial analyst R. Tse now anticipates that the technology company will earn $5.57 per share for the year, down from their previous estimate of $5.71. The consensus estimate for CGI’s current full-year earnings is $5.59 per share. National Bank Financial also issued estimates for CGI’s FY2025 earnings at $5.89 EPS.

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

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. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The firm has a market capitalization of $23.95 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.39 and a beta of 0.93.

Hedge Funds Weigh In On CGI

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of CGI by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after acquiring an additional 132,166 shares during the last quarter. Fiera Capital Corp increased its position in shares of CGI by 7.1% during the 4th quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock valued at $439,103,000 after purchasing an additional 272,371 shares during the last quarter. National Bank of Canada FI raised its stake in shares of CGI by 3.6% during the 4th quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock worth $385,239,000 after purchasing an additional 129,020 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CGI by 12.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock worth $348,026,000 after buying an additional 401,717 shares during the last quarter. Finally, Norges Bank bought a new position in CGI during the fourth quarter valued at about $273,239,000. 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.