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GIB - CGI: Good Q1 Results But The Valuation Keeps Me Away
CGI Group Inc.
2024-02-01 20:25:02 ET
Summary
CGI Inc. reported Q1 2024 results in line with estimates and is well-positioned to benefit from long-term tailwinds in the IT industry.
The company has historically delivered exceptional returns to shareholders and has a strong backlog and impressive margin expansion.
Despite backlog increasing and the headwinds looking like they are near-term, the valuation isn't attractive enough to get me excited, so I'll be on the sidelines for now.
Please note all $ figures in , not , unless otherwise noted