Computer Task Group, Inc. (NASDAQ:CTG) Expected to Post Quarterly Sales of $100.31 Million
Brokerages expect Computer Task Group, Inc. (NASDAQ:CTG) to report $100.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Computer Task Group’s earnings. The highest sales estimate is $101.03 million and the lowest is $99.58 million. Computer Task Group posted sales of $92.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, July 23rd.
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 $395.06 million to $398.84 million. For the next fiscal year, analysts anticipate that the company will report sales of $414.27 million, with estimates ranging from $412.73 million to $415.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Computer Task Group.
Computer Task Group (NASDAQ:CTG) last posted its quarterly earnings results on Thursday, April 18th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $97.24 million during the quarter, compared to analysts’ expectations of $93.63 million. Computer Task Group had a negative net margin of 0.67% and a positive return on equity of 5.07%.
NASDAQ CTG traded up $0.01 during trading hours on Tuesday, hitting $4.04. 11,651 shares of the stock were exchanged, compared to its average volume of 33,986. The company has a market cap of $57.68 million, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 0.82 and a beta of 0.50. Computer Task Group has a 12-month low of $3.85 and a 12-month high of $7.15. The stock has a 50-day moving average of $4.11. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Computer Task Group by 19.8% during the 4th quarter. BlackRock Inc. now owns 387,098 shares of the information technology services provider’s stock valued at $1,580,000 after buying an additional 64,107 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Computer Task Group during the 4th quarter valued at about $432,000. Ancora Advisors LLC raised its stake in shares of Computer Task Group by 85.1% during the 4th quarter. Ancora Advisors LLC now owns 278,986 shares of the information technology services provider’s stock valued at $1,138,000 after buying an additional 128,228 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Computer Task Group by 8.9% during the 1st quarter. Tocqueville Asset Management L.P. now owns 283,078 shares of the information technology services provider’s stock valued at $1,217,000 after buying an additional 23,078 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new position in shares of Computer Task Group during the 1st quarter valued at about $108,000. Institutional investors own 49.85% of the company’s stock.
Computer Task Group Company Profile
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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