Wall Street analysts predict that Computer Task Group, Inc. (NASDAQ:CTG) will post earnings of $0.06 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Computer Task Group’s earnings. Computer Task Group reported earnings of $0.05 per share in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The firm is scheduled to report its next quarterly earnings results on Tuesday, April 24th.
On average, analysts expect that Computer Task Group will report full-year earnings of $0.36 per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.40 to $0.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Computer Task Group.
Computer Task Group (NASDAQ:CTG) last issued its quarterly earnings data on Tuesday, February 20th. The information technology services provider reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Computer Task Group had a return on equity of 4.17% and a net margin of 0.27%. The company had revenue of $74.60 million during the quarter, compared to analyst estimates of $73.55 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. Computer Task Group’s revenue was down 3.7% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the business. Minerva Advisors LLC grew its holdings in Computer Task Group by 4.8% during the fourth quarter. Minerva Advisors LLC now owns 1,113,211 shares of the information technology services provider’s stock valued at $5,678,000 after purchasing an additional 50,770 shares during the period. Vanguard Group Inc. grew its holdings in Computer Task Group by 0.3% during the second quarter. Vanguard Group Inc. now owns 808,976 shares of the information technology services provider’s stock valued at $4,522,000 after purchasing an additional 2,400 shares during the period. Dimensional Fund Advisors LP grew its holdings in Computer Task Group by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 775,776 shares of the information technology services provider’s stock valued at $4,158,000 after purchasing an additional 14,124 shares during the period. Renaissance Technologies LLC grew its holdings 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 valued at $3,006,000 after purchasing an additional 87,200 shares during the period. Finally, Algert Global LLC grew its holdings in Computer Task Group by 249.2% during the fourth quarter. Algert Global LLC now owns 147,517 shares of the information technology services provider’s stock valued at $752,000 after purchasing an additional 105,274 shares during the period. 45.74% of the stock is owned by institutional investors and hedge funds.
Shares of Computer Task Group (NASDAQ CTG) opened at $7.97 on Thursday. Computer Task Group has a fifty-two week low of $4.90 and a fifty-two week high of $8.36. The company has a market capitalization of $120.84, a price-to-earnings ratio of 35.46, a P/E/G ratio of 1.44 and a beta of 1.19.
Computer Task Group announced that its board has initiated a stock buyback plan on Thursday, February 15th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the information technology services provider to buy shares of its stock through a dutch auction. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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Computer Task Group Company Profile
Computer Task Group, Incorporated (CTG) is an information technology (IT) solutions and staffing services company. The Company primarily operates in the segment of providing IT services to its clients. The Company has operations in North America and Europe. The Company is engaged in providing IT services, including IT Solutions, and IT and other Staffing.
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