Converge Technology Solutions (TSE:CTS) Downgraded by Ventum Financial to Tender

Ventum Financial downgraded shares of Converge Technology Solutions (TSE:CTS) from a buy rating to a tender rating in a report published on Monday morning,BayStreet.CA reports. They currently have C$5.50 target price on the stock, down from their previous target price of C$6.00.

CTS has been the topic of a number of other research reports. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. CIBC upped their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Raymond James cut their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Finally, TD Securities cut their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Converge Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of C$5.73.

Converge Technology Solutions Trading Down 0.2 %

TSE CTS opened at C$5.40 on Monday. The business’s 50-day moving average price is C$3.48 and its two-hundred day moving average price is C$3.87. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The firm has a market capitalization of C$1.05 billion, a PE ratio of -6.75, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions (TSE:CTS) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, beating analysts’ consensus estimates of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. During the same period last year, the firm posted $0.10 EPS. On average, analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current year.

Converge Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -7.50%.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.