Equities research analysts expect Computer Task Group, Inc. (NASDAQ:CTG) to announce sales of $91.51 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Computer Task Group’s earnings. The highest sales estimate is $91.52 million and the lowest is $91.49 million. Computer Task Group reported sales of $74.64 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Computer Task Group will report full year sales of $357.18 million for the current financial year, with estimates ranging from $357.16 million to $357.20 million. For the next fiscal year, analysts forecast that the company will report sales of $380.81 million, with estimates ranging from $372.53 million to $389.09 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Computer Task Group.
Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings results on Thursday, October 18th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $90.26 million for the quarter, compared to analysts’ expectations of $88.62 million. Computer Task Group had a return on equity of 5.13% and a net margin of 0.62%.
CTG has been the topic of a number of research reports. ValuEngine cut Computer Task Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Computer Task Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. Barrington Research set a $9.00 price target on Computer Task Group and gave the stock a “buy” rating in a research report on Thursday, July 12th. Finally, B. Riley set a $10.00 price target on Computer Task Group and gave the stock a “buy” rating in a research report on Friday, October 19th.
Several institutional investors have recently made changes to their positions in CTG. Renaissance Technologies LLC raised its position in shares of Computer Task Group by 15.7% during the 2nd quarter. Renaissance Technologies LLC now owns 984,300 shares of the information technology services provider’s stock worth $7,618,000 after purchasing an additional 133,700 shares during the period. Dimensional Fund Advisors LP increased its position in Computer Task Group by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 956,611 shares of the information technology services provider’s stock valued at $7,404,000 after acquiring an additional 114,374 shares during the period. JPMorgan Chase & Co. increased its position in Computer Task Group by 9,347.0% in the 1st quarter. JPMorgan Chase & Co. now owns 111,852 shares of the information technology services provider’s stock valued at $916,000 after acquiring an additional 110,668 shares during the period. Acadian Asset Management LLC increased its position in Computer Task Group by 71.5% in the 2nd quarter. Acadian Asset Management LLC now owns 240,680 shares of the information technology services provider’s stock valued at $1,863,000 after acquiring an additional 100,325 shares during the period. Finally, Cove Street Capital LLC acquired a new stake in Computer Task Group in the 2nd quarter valued at approximately $604,000. Institutional investors and hedge funds own 51.03% of the company’s stock.
Shares of Computer Task Group stock opened at $4.52 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $67.12 million, a PE ratio of 20.55, a P/E/G ratio of 1.12 and a beta of 0.57. Computer Task Group has a twelve month low of $4.37 and a twelve month high of $9.62.
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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