Wall Street brokerages forecast that Computer Task Group, Inc. (NASDAQ:CTG) will report $88.62 million in sales for the current quarter, Zacks reports. Two analysts have provided 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 during the same quarter last year, which would suggest a positive year over year growth rate of 19.7%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, October 18th.
On average, analysts expect that Computer Task Group will report full-year sales of $355.40 million for the current fiscal year, with estimates ranging from $354.80 million to $355.99 million. For the next year, analysts expect that the business will post sales of $380.91 million, with estimates ranging from $372.70 million to $389.11 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Computer Task Group.
Computer Task Group (NASDAQ:CTG) last released its earnings results on Thursday, July 19th. The information technology services provider reported $0.08 EPS for the quarter, hitting 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 the consensus estimate of $88.06 million.
CTG has been the topic of several analyst reports. Barrington Research set a $9.00 target price on Computer Task Group and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research upgraded Computer Task Group from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Saturday, July 14th. Finally, ValuEngine upgraded Computer Task Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.00.
Several hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC raised its stake in shares of Computer Task Group by 6.8% in the first 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. Millennium Management LLC purchased a new position in shares of Computer Task Group in the first quarter worth $271,000. Algert Global LLC raised its stake in shares of Computer Task Group by 23.2% in the second 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. Granahan Investment Management Inc. MA raised its stake in shares of Computer Task Group by 15.9% in the second quarter. Granahan Investment Management Inc. MA now owns 302,467 shares of the information technology services provider’s stock worth $2,341,000 after purchasing an additional 41,384 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Computer Task Group by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 842,237 shares of the information technology services provider’s stock worth $6,898,000 after purchasing an additional 47,670 shares during the last quarter. Hedge funds and other institutional investors own 51.04% of the company’s stock.
Computer Task Group stock traded up $0.19 during mid-day trading on Friday, hitting $5.34. The company had a trading volume of 19,838 shares, compared to its average volume of 63,622. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. Computer Task Group has a 12 month low of $4.90 and a 12 month high of $9.62. The company has a market capitalization of $75.54 million, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56.
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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