$112.66 million in sales expected for Computer Task Group, Incorporated (NASDAQ:CTG) this quarter
Wall Street analysts expect Computer Task Group, Incorporated (NASDAQ:CTG) to report sales of $112.66 million for the current quarter, reports Zacks Investment Research. Two analysts released earnings estimates for Computer Task Group. The highest sales estimate is $113.00 million and the lowest is $112.31 million. Computer Task Group reported sales of $101.35 million in the same quarter last year, suggesting a positive year-over-year growth rate of 11.2%. The company is expected to announce its next earnings report on Tuesday, February 22.
On average, analysts expect Computer Task Group to report annual sales of $392.55 million for the current fiscal year, with estimates ranging from $392.20 to $392.90 million. For the next fiscal year, analysts expect the company to post sales of $397.05 million, with estimates ranging from $392.09 million to $402.00 million. Zacks Investment Research sales averages are an average based on a survey of research companies that cover Computer Task Group.
Computer Task Group (NASDAQ:CTG) last released its results on Tuesday, November 9. The information technology service provider reported EPS of $0.13 for the quarter, beating the Zacks consensus estimate of $0.11 by $0.02. The company posted revenue of $90.60 million for the quarter, versus a consensus estimate of $91.19 million. Computer Task Group achieved a net margin of 1.81% and a return on equity of 9.67%. During the same period last year, the company posted EPS of $0.18.
Separately, Zacks Investment Research upgraded Computer Task Group shares from a “buy” to a “hold” rating in a Tuesday, Jan. 11 research note.
Hedge funds and other institutional investors have recently changed their positions in the stock. Minerva Advisors LLC increased its stake in Computer Task Group by 4.6% during the 3rd quarter. Minerva Advisors LLC now owns 1,217,404 shares of the information technology service provider valued at $9,703,000 after acquiring 53,303 additional shares last quarter. Dimensional Fund Advisors LP increased its stake in Computer Task Group by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 996,041 shares of the information technology service provider valued at $9,632,000 after acquiring an additional 41,032 shares last quarter. Vanguard Group Inc. increased its stake in Computer Task Group by 21.2% during the 2nd quarter. Vanguard Group Inc. now owns 669,076 shares of the information technology service provider valued at $6,471,000 after acquiring an additional 117,145 shares last quarter. Granahan Investment Management Inc. MA increased its stake in Computer Task Group by 2.9% during the third quarter. Granahan Investment Management Inc. MA now owns 539,873 shares of the information technology service provider valued at $4,308,000 after acquiring an additional 15,260 shares last quarter. Finally, Lewis Capital Management LLC purchased a new position in Computer Task Group during Q4, valued at approximately $3,541,000. Hedge funds and other institutional investors own 52.39% of the company’s shares.
The NASDAQ CTG opened at $8.55 on Friday. The company has a market cap of $131.18 million, a price-to-earnings ratio of 18.59, a growth price-to-earnings ratio of 0.63, and a beta of 0.81. The company’s fifty-day moving average price is $8.91 and its 200-day moving average price is $8.59. Computer Task Group has a 12-month low of $6.49 and a 12-month high of $11.68.
IT Workgroup Company Profile
Computer Task Group, Inc is engaged in the provision of information technology solutions and staffing services. The company’s services encompass the information technology enterprise solution lifecycle, including the planning, development, implementation, management and maintenance phases of the information technology solution. information.
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