Brokerages Anticipate Computer Task Group, Inc. (CTG) to Announce $0.06 Earnings Per Share

Computer Task Group, Inc. (NASDAQ:CTG) has received an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Analysts have set a one year consensus price target of $8.00 for the company and are anticipating that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Computer Task Group an industry rank of 213 out of 265 based on the ratings given to its competitors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Computer Task Group from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. TheStreet raised Computer Task Group from a “d+” rating to a “c” rating in a report on Tuesday, October 24th. Finally, B. Riley set a $9.00 target price on Computer Task Group and gave the company a “buy” rating in a report on Monday, October 23rd.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Computer Task Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 808,976 shares of the information technology services provider’s stock worth $4,522,000 after purchasing an additional 2,400 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 in the last quarter. Granahan Investment Management Inc. MA bought a new position in shares of Computer Task Group during the third quarter valued at $611,000. Macquarie Group Ltd. bought a new position in Computer Task Group in the third quarter valued at about $483,000. Finally, Northern Trust Corp lifted its holdings in Computer Task Group by 4.2% in the second quarter. Northern Trust Corp now owns 55,589 shares of the information technology services provider’s stock valued at $311,000 after acquiring an additional 2,247 shares during the period. 45.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Computer Task Group (NASDAQ:CTG) traded down $0.02 during mid-day trading on Friday, hitting $5.11. 31,116 shares of the stock traded hands, compared to its average volume of 36,944. The firm has a market cap of $80.09, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. Computer Task Group has a one year low of $4.30 and a one year high of $6.33.

Computer Task Group (NASDAQ:CTG) last issued its earnings results on Tuesday, October 24th. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Computer Task Group had a return on equity of 4.50% and a net margin of 0.78%. The firm had revenue of $74.04 million during the quarter, compared to the consensus estimate of $75.80 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Computer Task Group’s revenue for the quarter was down 5.2% on a year-over-year basis. analysts forecast that Computer Task Group will post 0.22 earnings per share for the current fiscal year.

Computer Task Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 24th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase 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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