K LIU & Analysts Reduce Earnings Estimates for Computer Task Group, Incorporated (NASDAQ:CTG) – MarketBeat
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Computer Task Group, Incorporated (NASDAQ:CTG – Get Rating) – Research analysts at K LIU & cut their Q3 2022 earnings estimates for shares of Computer Task Group in a note issued to investors on Friday, August 5th. K LIU & analyst K. Liu now forecasts that the information technology services provider will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.17. The consensus estimate for Computer Task Group’s current full-year earnings is $0.59 per share. K LIU & also issued estimates for Computer Task Group’s Q4 2022 earnings at $0.16 EPS, FY2022 earnings at $0.61 EPS, Q1 2023 earnings at $0.15 EPS, Q2 2023 earnings at $0.24 EPS, Q3 2023 earnings at $0.18 EPS, Q4 2023 earnings at $0.20 EPS and FY2023 earnings at $0.77 EPS.
Separately, StockNews.com started coverage on Computer Task Group in a research note on Thursday. They issued a “strong-buy” rating on the stock.
Computer Task Group Stock Down 2.4 %
Shares of NASDAQ:CTG opened at $8.38 on Monday. The firm has a market cap of $128.56 million, a price-to-earnings ratio of 8.64, a PEG ratio of 0.62 and a beta of 0.68. Computer Task Group has a 12 month low of $6.77 and a 12 month high of $10.38. The company’s fifty day simple moving average is $8.66 and its 200 day simple moving average is $8.92.
Computer Task Group (NASDAQ:CTG – Get Rating) last posted its earnings results on Tuesday, May 10th. The information technology services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $89.42 million during the quarter, compared to analysts’ expectations of $93.63 million. Computer Task Group had a return on equity of 11.32% and a net margin of 3.91%. During the same period in the previous year, the firm earned $0.13 earnings per share.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its stake in shares of Computer Task Group by 20.9% in the second quarter. Royce & Associates LP now owns 1,393,106 shares of the information technology services provider’s stock valued at $11,925,000 after buying an additional 240,870 shares in the last quarter. Lewis Capital Management LLC lifted its stake in Computer Task Group by 3.5% in the 2nd quarter. Lewis Capital Management LLC now owns 376,952 shares of the information technology services provider’s stock valued at $3,227,000 after purchasing an additional 12,616 shares during the last quarter. Bailard Inc. bought a new position in Computer Task Group during the second quarter worth about $146,000. Ritholtz Wealth Management bought a new stake in Computer Task Group in the second quarter valued at approximately $100,000. Finally, State Street Corp lifted its position in shares of Computer Task Group by 2.8% in the first quarter. State Street Corp now owns 58,271 shares of the information technology services provider’s stock valued at $569,000 after buying an additional 1,586 shares during the last quarter. Institutional investors own 53.00% of the company’s stock.
About Computer Task Group
(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.
Further Reading
- Get a free copy of the StockNews.com research report on Computer Task Group (CTG)
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