Computer Task Group, Inc. (NASDAQ:CTG) Expected to Post Quarterly Sales of $97.99 Million

Wall Street brokerages expect that Computer Task Group, Inc. (NASDAQ:CTG) will post $97.99 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Computer Task Group’s earnings. The highest sales estimate is $98.50 million and the lowest is $97.48 million. Computer Task Group posted sales of $90.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The firm is expected to issue its next earnings results on Thursday, October 17th.

According to Zacks, analysts expect that Computer Task Group will report full year sales of $396.95 million for the current year, with estimates ranging from $395.89 million to $398.00 million. For the next fiscal year, analysts forecast that the business will post sales of $413.87 million, with estimates ranging from $412.73 million to $415.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Computer Task Group.

Computer Task Group (NASDAQ:CTG) last released its earnings results on Tuesday, July 23rd. The information technology services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Computer Task Group had a positive return on equity of 5.48% and a negative net margin of 0.66%. The company had revenue of $100.41 million during the quarter, compared to analyst estimates of $100.31 million.

A number of equities research analysts have recently weighed in on CTG shares. ValuEngine lowered Computer Task Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised Computer Task Group from a “hold” rating to a “strong-buy” rating and set a $5.25 target price for the company in a research note on Thursday, July 25th. Barrington Research set a $7.00 target price on Computer Task Group and gave the company a “buy” rating in a research note on Monday, April 22nd. TheStreet raised Computer Task Group from a “d+” rating to a “c-” rating in a research note on Monday, May 13th. Finally, B. Riley set a $8.00 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Computer Task Group presently has an average rating of “Buy” and a consensus target price of $6.75.

Shares of NASDAQ CTG remained flat at $$4.08 during midday trading on Thursday. The stock had a trading volume of 161,494 shares, compared to its average volume of 73,745. Computer Task Group has a 12 month low of $3.85 and a 12 month high of $6.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 1.93. The company’s 50 day simple moving average is $4.18 and its two-hundred day simple moving average is $4.25. The company has a market cap of $59.49 million, a PE ratio of 17.00, a PEG ratio of 0.82 and a beta of 0.48.

Several hedge funds have recently bought and sold shares of CTG. Tocqueville Asset Management L.P. grew its stake in shares of Computer Task Group by 8.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 283,078 shares of the information technology services provider’s stock worth $1,217,000 after buying an additional 23,078 shares during the last quarter. Courier Capital LLC purchased a new stake in shares of Computer Task Group in the 2nd quarter worth approximately $59,000. Gabelli Funds LLC purchased a new stake in shares of Computer Task Group in the 1st quarter worth approximately $108,000. BlackRock Inc. grew its stake in shares of Computer Task Group by 19.8% in the 4th quarter. BlackRock Inc. now owns 387,098 shares of the information technology services provider’s stock worth $1,580,000 after buying an additional 64,107 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Computer Task Group in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 49.20% of the company’s stock.

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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