Zacks: Brokerages Anticipate Computer Task Group, Inc. (CTG) Will Post Quarterly Sales of $93.63 Million

Wall Street analysts predict that Computer Task Group, Inc. (NASDAQ:CTG) will announce $93.63 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Computer Task Group’s earnings. The lowest sales estimate is $92.90 million and the highest is $94.35 million. Computer Task Group posted sales of $82.79 million in the same quarter last year, which suggests a positive year over year growth rate of 13.1%. The business is expected to report its next earnings report before the market opens on Thursday, April 18th.

On average, analysts expect that Computer Task Group will report full-year sales of $395.00 million for the current fiscal year, with estimates ranging from $394.99 million to $395.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $412.21 million, with estimates ranging from $411.80 million to $412.61 million. Zacks’ sales averages are an average based on a survey of analysts that follow Computer Task Group.

Computer Task Group (NASDAQ:CTG) last announced its earnings results on Tuesday, February 19th. The information technology services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Computer Task Group had a negative net margin of 0.76% and a positive return on equity of 4.77%. The company had revenue of $93.13 million for the quarter, compared to analysts’ expectations of $91.51 million.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Computer Task Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. ValuEngine raised Computer Task Group from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Barrington Research set a $7.00 price objective on Computer Task Group and gave the stock a “buy” rating in a research note on Tuesday, February 26th. B. Riley set a $8.00 price objective on Computer Task Group and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, TheStreet downgraded Computer Task Group from a “c-” rating to a “d” rating in a research note on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Computer Task Group presently has a consensus rating of “Hold” and an average target price of $8.00.

Shares of NASDAQ CTG opened at $4.21 on Tuesday. Computer Task Group has a 12 month low of $3.85 and a 12 month high of $9.62. The firm has a market cap of $60.85 million, a PE ratio of 17.54, a P/E/G ratio of 0.81 and a beta of 0.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.17 and a quick ratio of 2.17.

A number of institutional investors have recently made changes to their positions in the stock. Minerva Advisors LLC lifted its stake in Computer Task Group by 6.6% in the 4th quarter. Minerva Advisors LLC now owns 1,233,160 shares of the information technology services provider’s stock worth $5,031,000 after acquiring an additional 76,412 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Computer Task Group by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 988,568 shares of the information technology services provider’s stock worth $5,160,000 after acquiring an additional 31,957 shares in the last quarter. BlackRock Inc. lifted its stake in Computer Task Group by 19.8% in the 4th quarter. BlackRock Inc. now owns 387,098 shares of the information technology services provider’s stock worth $1,580,000 after acquiring an additional 64,107 shares in the last quarter. Ancora Advisors LLC lifted its stake in Computer Task Group by 85.1% in the 4th quarter. Ancora Advisors LLC now owns 278,986 shares of the information technology services provider’s stock worth $1,138,000 after acquiring an additional 128,228 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Computer Task Group by 3.4% in the 4th quarter. Acadian Asset Management LLC now owns 265,873 shares of the information technology services provider’s stock worth $1,084,000 after acquiring an additional 8,717 shares in the last quarter. 49.44% of the stock is owned by hedge funds and other institutional investors.

About Computer Task Group

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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Earnings History and Estimates for Computer Task Group (NASDAQ:CTG)

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