Positive News Coverage Somewhat Unlikely to Affect Computer Task Group (CTG) Stock Price

News coverage about Computer Task Group (NASDAQ:CTG) has been trending positive this week, according to Accern Sentiment. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Computer Task Group earned a media sentiment score of 0.27 on Accern’s scale. Accern also assigned media headlines about the information technology services provider an impact score of 45.561500360357 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Computer Task Group (NASDAQ:CTG) opened at $5.19 on Friday. Computer Task Group has a 12-month low of $4.14 and a 12-month high of $6.33. The stock has a market capitalization of $80.02, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.23.

Computer Task Group (NASDAQ:CTG) last announced its earnings results on Tuesday, October 24th. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $74.04 million for the quarter, compared to analysts’ expectations of $75.80 million. Computer Task Group had a net margin of 0.78% and a return on equity of 4.50%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. analysts forecast that Computer Task Group will post 0.22 earnings per share for the current fiscal year.

Computer Task Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 24th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Several brokerages have recently issued reports on CTG. Zacks Investment Research cut Computer Task Group from a “hold” rating to a “sell” rating in a report on Friday, October 27th. TheStreet raised Computer Task Group from a “d+” rating to a “c” rating in a report on Tuesday, October 24th. Finally, B. Riley set a $9.00 price target on Computer Task Group and gave the stock a “buy” rating in a research report on Monday, October 23rd.

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About Computer Task Group

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.

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