Computer Task Group (CTG) Updates FY18 Earnings Guidance

Computer Task Group (NASDAQ:CTG) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.30-0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.27. The company issued revenue guidance of $340-360 million, compared to the consensus revenue estimate of $310.33 million.Computer Task Group also updated its Q1 guidance to $0.05-0.07 EPS.

Shares of Computer Task Group (NASDAQ CTG) traded down $0.04 on Wednesday, hitting $7.96. 65,389 shares of the stock were exchanged, compared to its average volume of 78,934. The firm has a market capitalization of $126.72, a price-to-earnings ratio of 37.18, a P/E/G ratio of 1.51 and a beta of 0.56. Computer Task Group has a 1-year low of $4.90 and a 1-year high of $8.49.

Computer Task Group (NASDAQ:CTG) last posted its earnings results on Tuesday, February 20th. The information technology services provider reported $0.06 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.06. The business had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $73.55 million. Computer Task Group had a net margin of 0.27% and a return on equity of 4.17%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. research analysts predict that Computer Task Group will post 0.36 EPS for the current year.

Computer Task Group announced that its board has approved a stock buyback 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 repurchase shares of its stock through a dutch auction. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have recently commented on the stock. ValuEngine cut shares of Computer Task Group from a buy rating to a hold rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded shares of Computer Task Group from a sell rating to a hold rating in a report on Thursday, January 4th.

An institutional investor recently raised its position in Computer Task Group stock. Northern Trust Corp grew its position in Computer Task Group, Inc. (NASDAQ:CTG) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,589 shares of the information technology services provider’s stock after purchasing an additional 2,247 shares during the period. Northern Trust Corp owned about 0.35% of Computer Task Group worth $311,000 at the end of the most recent reporting period. 46.10% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Computer Task Group (NASDAQ:CTG)

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