Bullish Chart Formation for CGI Group Inc. (GIB) After Forming Bullish Double Top Pattern

September 14, 2018 - By Vernon Prom

CGI Group Inc. (NYSE:GIB) Logo

The chart of CGI Group Inc. (GIB) shows a double top with $70.16 target or 7.00 % above today’s $65.57 share price. The 5 months chart pattern indicates low risk for the $18.28B company. It was reported on Sep, 14 by Finviz.com. If the $70.16 price target is reached, the company will be worth $1.28 billion more. Double tops are rare but powerful chart patterns.

The stock increased 0.34% or $0.22 during the last trading session, reaching $65.57. About 42,699 shares traded. CGI Group Inc. (NYSE:GIB) has risen 25.68% since September 14, 2017 and is uptrending. It has outperformed by 10.06% the S&P500.

Analysts await CGI Group Inc. (NYSE:GIB) to report earnings on November, 14. They expect $0.83 earnings per share, up 12.16 % or $0.09 from last year’s $0.74 per share. GIB’s profit will be $231.38 million for 19.75 P/E if the $0.83 EPS becomes a reality. After $0.84 actual earnings per share reported by CGI Group Inc. for the previous quarter, Wall Street now forecasts -1.19 % negative EPS growth.

Another recent and important CGI Group Inc. (NYSE:GIB) news was published by Streetinsider.com which published an article titled: “GE (GE), CGI Group (GIB) Announce Alliance Agreement for Electric Grid Software Development & Implementation …” on September 06, 2018.

CGI Group Inc. provides information technology and business process services in Canada and internationally. The company has market cap of $18.28 billion. It offers agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; business-to-business and customer activities support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services. It has a 24.16 P/E ratio. The firm also provides IT outsourcing services; and data analytics, enterprise application integration, enterprise architecture and content management, enterprise resource planning , and geospatial solutions.

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