Computer Task Group (CTG) Releases Earnings Results, Meets Estimates
Computer Task Group (NASDAQ:CTG) announced its quarterly earnings results on Tuesday. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06, Bloomberg Earnings reports. The firm had revenue of $74.60 million for the quarter, compared to the consensus estimate of $73.55 million. Computer Task Group had a return on equity of 4.50% and a net margin of 0.78%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. Computer Task Group updated its Q1 guidance to $0.05-0.07 EPS and its FY18 guidance to $0.30-0.42 EPS.
Computer Task Group (NASDAQ CTG) opened at $5.87 on Tuesday. Computer Task Group has a 1-year low of $4.73 and a 1-year high of $6.33. The firm has a market capitalization of $90.94, a PE ratio of 39.13, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19.
A hedge fund recently raised its stake in Computer Task Group stock. Northern Trust Corp grew its stake in Computer Task Group, Inc. (NASDAQ:CTG) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,589 shares of the information technology services provider’s stock after buying an additional 2,247 shares during the quarter. Northern Trust Corp owned approximately 0.35% of Computer Task Group worth $311,000 as of its most recent SEC filing. 45.74% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Computer Task Group from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. 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 price target on Computer Task Group and gave the company a “buy” rating in a report on Monday, October 23rd.
About Computer Task Group
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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