Computer Task Group, Inc. (CTG) Expected to Post Quarterly Sales of $88.62 Million

Equities research analysts expect that Computer Task Group, Inc. (NASDAQ:CTG) will announce sales of $88.62 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Computer Task Group’s earnings, with estimates ranging from $88.00 million to $89.24 million. Computer Task Group reported sales of $74.04 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 23rd.

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 fiscal year, analysts expect that the business will post sales of $380.91 million per share, with estimates ranging from $372.70 million to $389.11 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Computer Task Group.

Computer Task Group (NASDAQ:CTG) last posted its earnings results on Thursday, July 19th. The information technology services provider reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $92.67 million during the quarter, compared to the consensus estimate of $88.06 million. Computer Task Group had a return on equity of 4.78% and a net margin of 0.30%.

CTG has been the subject of several recent research reports. Zacks Investment Research cut Computer Task Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Barrington Research raised Computer Task Group from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a research note on Friday, June 15th. Finally, ValuEngine cut Computer Task Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.00.

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Computer Task Group by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 956,611 shares of the information technology services provider’s stock worth $7,404,000 after purchasing an additional 114,374 shares during the period. JPMorgan Chase & Co. grew its stake in Computer Task Group by 9,347.0% during the first quarter. JPMorgan Chase & Co. now owns 111,852 shares of the information technology services provider’s stock worth $916,000 after purchasing an additional 110,668 shares during the period. Acadian Asset Management LLC grew its stake in Computer Task Group by 71.5% during the second quarter. Acadian Asset Management LLC now owns 240,680 shares of the information technology services provider’s stock worth $1,863,000 after purchasing an additional 100,325 shares during the period. Renaissance Technologies LLC grew its stake in Computer Task Group by 17.4% during the fourth quarter. Renaissance Technologies LLC now owns 589,500 shares of the information technology services provider’s stock worth $3,006,000 after purchasing an additional 87,200 shares during the period. Finally, Algert Global LLC grew its stake in Computer Task Group by 23.2% during 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 period. 54.23% of the stock is owned by institutional investors.

Computer Task Group stock traded down $0.10 during trading hours on Friday, hitting $5.76. The stock had a trading volume of 17,424 shares, compared to its average volume of 76,230. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $84.80 million, a PE ratio of 26.18, a P/E/G ratio of 1.26 and a beta of 0.52. Computer Task Group has a one year low of $4.90 and a one year 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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