$75.62 Million in Sales Expected for Computer Task Group, Inc. (CTG) This Quarter

Analysts expect Computer Task Group, Inc. (NASDAQ:CTG) to post $75.62 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Computer Task Group’s earnings. The lowest sales estimate is $73.56 million and the highest is $77.69 million. Computer Task Group posted sales of $77.49 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.4%. The business is expected to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Computer Task Group will report full-year sales of $75.62 million for the current fiscal year. For the next year, analysts expect that the firm will post sales of $315.64 million per share, with estimates ranging from $305.27 million to $326.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Computer Task Group.

Computer Task Group (NASDAQ:CTG) last posted its earnings results on Tuesday, October 24th. The information technology services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $74.04 million for the quarter, compared to the consensus estimate of $75.80 million. Computer Task Group had a net margin of 0.78% and a return on equity of 4.50%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share.

Several research firms recently weighed in on CTG. B. Riley set a $9.00 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, October 23rd. TheStreet upgraded Computer Task Group from a “d+” rating to a “c” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research lowered Computer Task Group from a “hold” rating to a “sell” rating in a report on Friday, October 27th.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Computer Task Group by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 17,785 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 2,092 shares during the period. Balter Liquid Alternatives LLC purchased a new stake in Computer Task Group during the 2nd quarter valued at $117,000. Algert Global LLC purchased a new stake in Computer Task Group during the 2nd quarter valued at $141,000. Crescent Grove Advisors LLC purchased a new stake in Computer Task Group during the 2nd quarter valued at $192,000. Finally, Northern Trust Corp raised its holdings in Computer Task Group by 4.2% during the 2nd quarter. Northern Trust Corp now owns 55,589 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 2,247 shares during the period. Institutional investors own 45.69% of the company’s stock.

Computer Task Group (CTG) traded down $0.07 during trading hours on Friday, reaching $5.14. The company had a trading volume of 11,500 shares, compared to its average volume of 33,316. Computer Task Group has a one year low of $4.14 and a one year high of $6.33. The stock has a market cap of $80.71, a price-to-earnings ratio of 22.65, a PEG ratio of 2.37 and a beta of 1.23.

Computer Task Group announced that its board has authorized a stock buyback plan on Tuesday, October 24th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/08/75-62-million-in-sales-expected-for-computer-task-group-inc-ctg-this-quarter.html.

Computer Task Group Company Profile

Computer Task Group, Incorporated (CTG) is an information technology (IT) solutions and staffing services company. The Company primarily operates in the segment of providing IT services to its clients. The Company has operations in North America and Europe. The Company is engaged in providing IT services, including IT Solutions, and IT and other Staffing.

Get a free copy of the Zacks research report on Computer Task Group (CTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Computer Task Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Computer Task Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply