Computer Task Group, Inc. (NASDAQ:CTG) – Equities research analysts at B. Riley boosted their FY2018 earnings per share (EPS) estimates for shares of Computer Task Group in a research note issued to investors on Wednesday. B. Riley analyst K. Liu now anticipates that the information technology services provider will post earnings of $0.36 per share for the year, up from their previous forecast of $0.29. B. Riley also issued estimates for Computer Task Group’s FY2019 earnings at $0.52 EPS.
Separately, Zacks Investment Research raised shares of Computer Task Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th.
Shares of Computer Task Group (CTG) opened at $7.46 on Friday. The stock has a market cap of $112.01, a price-to-earnings ratio of 149.20, a price-to-earnings-growth ratio of 1.34 and a beta of 1.19. Computer Task Group has a twelve month low of $4.90 and a twelve month high of $7.52.
Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings results on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $74.60 million for the quarter, compared to analyst estimates of $73.55 million. Computer Task Group had a net margin of 0.27% and a return on equity of 4.17%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS.
Computer Task Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through a dutch auction. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in CTG. Wells Fargo & Company MN boosted its stake in shares of Computer Task Group by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 17,785 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 2,092 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Computer Task Group during the 4th quarter valued at about $109,000. Algert Global LLC boosted its stake in shares of Computer Task Group by 67.7% during the 3rd quarter. Algert Global LLC now owns 42,243 shares of the information technology services provider’s stock valued at $226,000 after purchasing an additional 17,053 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Computer Task Group by 4.2% during the 2nd quarter. Northern Trust Corp now owns 55,589 shares of the information technology services provider’s stock valued at $311,000 after purchasing an additional 2,247 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Computer Task Group by 35.6% during the 4th quarter. Deutsche Bank AG now owns 61,402 shares of the information technology services provider’s stock valued at $313,000 after purchasing an additional 16,120 shares in the last quarter. 45.74% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “B. Riley Brokers Boost Earnings Estimates for Computer Task Group, Inc. (CTG)” was originally published by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://transcriptdaily.com/2018/02/25/b-riley-brokers-boost-earnings-estimates-for-computer-task-group-inc-ctg.html.
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.
Receive News & Ratings for Computer Task Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Computer Task Group and related companies with MarketBeat.com's FREE daily email newsletter.