Computer Task Group, Inc. (NASDAQ:CTG) Expected to Announce Quarterly Sales of $97.99 Million

Equities research analysts forecast that Computer Task Group, Inc. (NASDAQ:CTG) will post $97.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Computer Task Group’s earnings. The highest sales estimate is $98.50 million and the lowest is $97.48 million. Computer Task Group posted sales of $90.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 17th.

On average, analysts expect that Computer Task Group will report full-year sales of $396.95 million for the current year, with estimates ranging from $395.89 million to $398.00 million. For the next year, analysts expect that the company will post sales of $413.87 million, with estimates ranging from $412.73 million to $415.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Computer Task Group.

Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings results on Tuesday, July 23rd. The information technology services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $100.41 million during the quarter, compared to analysts’ expectations of $100.31 million. Computer Task Group had a positive return on equity of 5.48% and a negative net margin of 0.66%.

Several analysts have commented on the company. B. Riley set a $8.00 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, April 22nd. Barrington Research set a $7.00 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, April 22nd. ValuEngine cut Computer Task Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. TheStreet upgraded Computer Task Group from a “d+” rating to a “c-” rating in a report on Monday, May 13th. Finally, Zacks Investment Research upgraded Computer Task Group from a “hold” rating to a “strong-buy” rating and set a $5.25 target price for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. Computer Task Group currently has an average rating of “Buy” and an average price target of $6.75.

CTG remained flat at $$4.08 during midday trading on Thursday. The company’s stock had a trading volume of 161,494 shares, compared to its average volume of 73,745. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $59.49 million, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.82 and a beta of 0.48. The firm has a 50-day simple moving average of $4.18 and a 200-day simple moving average of $4.25. Computer Task Group has a 52 week low of $3.85 and a 52 week high of $6.35.

Several large investors have recently modified their holdings of CTG. Renaissance Technologies LLC boosted its holdings in Computer Task Group by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 958,360 shares of the information technology services provider’s stock worth $3,843,000 after acquiring an additional 36,597 shares during the period. BlackRock Inc. boosted its holdings in Computer Task Group by 12.1% in the 2nd quarter. BlackRock Inc. now owns 432,770 shares of the information technology services provider’s stock worth $1,735,000 after acquiring an additional 46,866 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in Computer Task Group by 8.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 283,078 shares of the information technology services provider’s stock worth $1,217,000 after acquiring an additional 23,078 shares during the period. Acadian Asset Management LLC boosted its holdings in Computer Task Group by 7.4% in the 2nd quarter. Acadian Asset Management LLC now owns 273,429 shares of the information technology services provider’s stock worth $1,096,000 after acquiring an additional 18,944 shares during the period. Finally, Gabelli Funds LLC purchased a new position in Computer Task Group in the 1st quarter worth approximately $108,000. Institutional investors and hedge funds own 49.20% of the company’s stock.

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

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