Analysts Expect Computer Task Group, Incorporated (NASDAQ:CTG) Will Announce Quarterly Sales of $93.63 Million

Analysts expect Computer Task Group, Incorporated (NASDAQ:CTG – Get Rating) to post sales of $93.63 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Computer Task Group’s earnings, with the lowest sales estimate coming in at $93.50 million and the highest estimate coming in at $93.76 million. Computer Task Group reported sales of $97.13 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The business is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Computer Task Group will report full year sales of $384.85 million for the current year, with estimates ranging from $379.69 million to $390.00 million. For the next financial year, analysts anticipate that the company will post sales of $406.85 million, with estimates ranging from $396.20 million to $417.50 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Computer Task Group.

Computer Task Group (NASDAQ:CTG – Get Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The information technology services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.08. The business had revenue of $112.39 million during the quarter, compared to the consensus estimate of $112.66 million. Computer Task Group had a return on equity of 11.20% and a net margin of 3.50%. During the same quarter in the previous year, the firm earned $0.14 earnings per share.

A number of research analysts have issued reports on CTG shares. StockNews.com started coverage on Computer Task Group in a research report on Wednesday. They issued a “buy” rating on the stock. Zacks Investment Research cut Computer Task Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 10th.

Computer Task Group stock opened at $9.24 on Thursday. Computer Task Group has a 12-month low of $6.77 and a 12-month high of $10.83. The business’s 50-day moving average price is $9.39 and its two-hundred day moving average price is $8.86. The stock has a market cap of $141.75 million, a PE ratio of 10.15, a P/E/G ratio of 0.70 and a beta of 0.74.

Large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Computer Task Group by 11,661.3% during the third quarter. Barclays PLC now owns 3,646 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 3,615 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Computer Task Group during the third quarter worth about $80,000. Millennium Management LLC grew its holdings in shares of Computer Task Group by 15.0% during the second quarter. Millennium Management LLC now owns 13,655 shares of the information technology services provider’s stock worth $132,000 after purchasing an additional 1,779 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Computer Task Group by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,735 shares of the information technology services provider’s stock worth $110,000 after purchasing an additional 1,839 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Computer Task Group by 174.0% during the third quarter. Raymond James & Associates now owns 28,685 shares of the information technology services provider’s stock worth $229,000 after purchasing an additional 18,215 shares during the last quarter. Institutional investors own 53.52% of the company’s stock.

About Computer Task Group (Get Rating)

Computer Task Group, Incorporated, together with its subsidiaries, offers information and technology services in North America, South America, Western Europe, and India. It operates through three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.

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