Computer Task Group, Incorporated (CTG) Issues Q3 Earnings Guidance

Computer Task Group, Incorporated (NASDAQ:CTG) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.04-0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07. The company issued revenue guidance of $75-77 million, compared to the consensus revenue estimate of $80.45 million.Computer Task Group, also updated its FY17 guidance to $0.22-0.26 EPS.

Computer Task Group, Incorporated (NASDAQ CTG) remained flat at $5.11 on Friday. 43,619 shares of the company’s stock were exchanged. Computer Task Group, Incorporated has a one year low of $3.87 and a one year high of $6.33. The stock’s market cap is $80.22 million. The firm has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.53.

Computer Task Group, (NASDAQ:CTG) last released its quarterly earnings data on Tuesday, July 25th. The information technology services provider reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Computer Task Group, had a negative net margin of 4.50% and a positive return on equity of 4.27%. The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $78.05 million. During the same quarter last year, the company earned $0.05 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that Computer Task Group, Incorporated will post $0.24 earnings per share for the current year.

A number of analysts recently weighed in on the stock. B. Riley reaffirmed a buy rating and issued a $7.00 price objective on shares of Computer Task Group, in a report on Tuesday, April 25th. Zacks Investment Research cut shares of Computer Task Group, from a buy rating to a hold rating in a report on Tuesday, April 25th.

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A hedge fund recently raised its stake in Computer Task Group, stock. Northern Trust Corp increased its stake in shares of Computer Task Group, Incorporated (NASDAQ:CTG) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,589 shares of the information technology services provider’s stock after buying an additional 2,247 shares during the period. Northern Trust Corp owned 0.35% of Computer Task Group, worth $311,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 47.20% of the company’s stock.

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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