Brokerages 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 $93.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Computer Task Group’s earnings, with the highest sales estimate coming in at $93.76 million and the lowest estimate coming in at $93.50 million. Computer Task Group reported sales of $97.13 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.6%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, 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 fiscal year, analysts anticipate that the firm will post sales of $406.85 million, with estimates ranging from $396.20 million to $417.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Computer Task Group.

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

A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Computer Task Group from a “hold” rating to a “sell” rating in a report on Thursday, March 10th. StockNews.com assumed coverage on shares of Computer Task Group in a report on Monday. They issued a “buy” rating for the company.

Shares of CTG traded up $0.04 during mid-day trading on Thursday, hitting $10.01. 14,563 shares of the company were exchanged, compared to its average volume of 28,294. Computer Task Group has a 1-year low of $6.77 and a 1-year high of $11.68. The company has a 50 day moving average of $9.12 and a 200-day moving average of $8.73. The stock has a market cap of $153.56 million, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 0.72 and a beta of 0.74.

A number of institutional investors have recently added to or reduced their stakes in CTG. Barclays PLC raised its holdings in shares of Computer Task Group by 11,661.3% in the 3rd quarter. Barclays PLC now owns 3,646 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 3,615 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of Computer Task Group in the third quarter valued at about $80,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 buying an additional 1,839 shares in the last quarter. Millennium Management LLC boosted its holdings in Computer Task Group by 16.9% during the third quarter. Millennium Management LLC now owns 15,959 shares of the information technology services provider’s stock worth $127,000 after buying an additional 2,304 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in 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 buying an additional 18,215 shares in the last quarter. Institutional investors own 53.52% of the company’s stock.

Computer Task Group Company Profile (Get Rating)

Computer Task Group, Inc engages in the provision of information technology solutions and staffing services. The firm’s services encompass the information technology business solution life cycle, including phases for planning, developing, implementing, managing, and maintaining the information technology solution.

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