Brokerages expect that Computer Task Group, Inc. (NASDAQ:CTG) will report sales of $88.62 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Computer Task Group’s earnings, with the highest sales estimate coming in at $89.24 million and the lowest estimate coming in at $88.00 million. Computer Task Group reported sales of $74.04 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 23rd.
On average, analysts expect that Computer Task Group will report full-year sales of $355.40 million for the current year, with estimates ranging from $354.80 million to $355.99 million. For the next fiscal year, analysts expect that the company will report sales of $380.91 million per share, with estimates ranging from $372.70 million to $389.11 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Computer Task Group.
Computer Task Group (NASDAQ:CTG) last released its quarterly earnings data on Thursday, July 19th. The information technology services provider reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Computer Task Group had a return on equity of 4.78% and a net margin of 0.30%. The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $88.06 million.
A number of brokerages recently issued reports on CTG. ValuEngine raised Computer Task Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. Barrington Research reissued a “hold” rating on shares of Computer Task Group in a research report on Friday, April 20th. Finally, Zacks Investment Research lowered Computer Task Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $9.00.
Shares of Computer Task Group traded down $0.10, hitting $5.76, during trading on Friday, MarketBeat reports. 17,424 shares of the company’s stock traded hands, compared to its average volume of 76,230. Computer Task Group has a 52 week low of $4.90 and a 52 week high of $9.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $84.80 million, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Computer Task Group by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 956,611 shares of the information technology services provider’s stock valued at $7,404,000 after buying an additional 114,374 shares during the last quarter. Algert Global LLC increased its position in shares of Computer Task Group by 23.2% during the 2nd quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock worth $1,480,000 after purchasing an additional 35,988 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Computer Task Group by 71.5% during the 2nd quarter. Acadian Asset Management LLC now owns 240,680 shares of the information technology services provider’s stock worth $1,863,000 after purchasing an additional 100,325 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Computer Task Group during the 1st quarter worth approximately $271,000. Finally, Ancora Advisors LLC increased its position in shares of Computer Task Group by 6.8% during the 1st quarter. Ancora Advisors LLC now owns 207,567 shares of the information technology services provider’s stock worth $1,700,000 after purchasing an additional 13,218 shares during the last quarter. 54.23% of the stock is currently owned by institutional investors and hedge funds.
Computer Task Group Company Profile
Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.
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