Computer Task Group (NASDAQ:CTG) Updates FY 2022 Earnings Guidance

Computer Task Group (NASDAQ:CTGGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.64-$0.72 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $360.00 million-$380.00 million, compared to the consensus revenue estimate of $384.84 million.

Shares of CTG stock traded up $0.06 on Tuesday, reaching $8.74. 458 shares of the stock were exchanged, compared to its average volume of 28,086. The business’s 50 day moving average price is $9.40 and its 200 day moving average price is $8.96. The company has a market capitalization of $134.07 million, a price-to-earnings ratio of 9.10, a PEG ratio of 0.61 and a beta of 0.72. Computer Task Group has a twelve month low of $6.77 and a twelve month high of $10.40.

Computer Task Group (NASDAQ:CTGGet Rating) last issued its earnings results on Tuesday, May 10th. The information technology services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Computer Task Group had a net margin of 3.76% and a return on equity of 11.26%. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, sell-side analysts anticipate that Computer Task Group will post 0.69 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Computer Task Group from a hold rating to a sell rating in a report on Thursday, March 10th. StockNews.com assumed coverage on shares of Computer Task Group in a report on Friday. They issued a buy rating for the company.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its position in Computer Task Group by 2.8% during the first quarter. State Street Corp now owns 58,271 shares of the information technology services provider’s stock worth $569,000 after buying an additional 1,586 shares during the period. Millennium Management LLC grew its position in shares of Computer Task Group by 15.0% in the second quarter. Millennium Management LLC now owns 13,655 shares of the information technology services provider’s stock valued at $132,000 after purchasing an additional 1,779 shares during the last quarter. BlackRock Inc. grew its position in shares of Computer Task Group by 0.6% in the fourth quarter. BlackRock Inc. now owns 283,494 shares of the information technology services provider’s stock valued at $2,826,000 after purchasing an additional 1,827 shares during the last quarter. Morgan Stanley grew its position in shares of Computer Task Group by 7.0% in the second quarter. Morgan Stanley now owns 33,300 shares of the information technology services provider’s stock valued at $322,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Computer Task Group by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 964,872 shares of the information technology services provider’s stock valued at $9,427,000 after purchasing an additional 9,413 shares during the last quarter. 53.00% of the stock is owned by hedge funds and other institutional investors.

Computer Task Group Company Profile (Get Rating)

Computer Task Group, Incorporated, together with its subsidiaries, offers information and technology services in North America, South America, Western Europe, and India. It operates through three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.

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

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