Computer Task Group (NASDAQ:CTG) Issues FY 2022 Earnings Guidance – Defense World
Posted by admin on May 31st, 2022 
Computer Task Group (NASDAQ:CTG – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.64-$0.72 for the period, compared to the consensus EPS 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 opened at $8.52 on Tuesday. Computer Task Group has a 1 year low of $6.77 and a 1 year high of $10.38. The company has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $9.00. The firm has a market cap of $130.70 million, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 0.61 and a beta of 0.72.
Computer Task Group (NASDAQ:CTG – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The information technology services provider reported $0.16 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $0.13 earnings per share. As a group, equities research analysts expect that Computer Task Group will post 0.69 EPS for the current year.
CTG has been the subject of several research analyst reports. Zacks Investment Research downgraded Computer Task Group from a hold rating to a sell rating in a research report on Thursday, March 10th. StockNews.com assumed coverage on Computer Task Group in a report on Saturday, May 21st. They issued a strong-buy rating for the company.
A number of institutional investors have recently made changes to their positions in the business. LPL Financial LLC purchased a new stake in shares of Computer Task Group during the third quarter worth about $80,000. Millennium Management LLC grew its stake in shares of Computer Task Group by 16.9% during the third quarter. Millennium Management LLC now owns 15,959 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 2,304 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Computer Task Group during the second quarter worth about $286,000. Morgan Stanley grew its stake in shares of Computer Task Group by 15.0% during the first quarter. Morgan Stanley now owns 31,122 shares of the information technology services provider’s stock worth $296,000 after acquiring an additional 4,055 shares during the last quarter. Finally, State Street Corp grew its stake in shares of 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 acquiring an additional 1,586 shares during the last quarter. Institutional investors and hedge funds own 53.00% of the company’s stock.
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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