Converge Technology Solutions Corp. Forecasted to Earn Q2 2024 Earnings of $0.11 Per Share (TSE:CTS)

Converge Technology Solutions Corp. (TSE:CTS) – Ventum Cap Mkts issued their Q2 2024 EPS estimates for Converge Technology Solutions in a note issued to investors on Tuesday, June 25th. Ventum Cap Mkts analyst R. Goff anticipates that the company will post earnings per share of $0.11 for the quarter. Ventum Cap Mkts currently has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.54 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.16 EPS, FY2025 earnings at $0.59 EPS, FY2026 earnings at $0.68 EPS and FY2027 earnings at $0.82 EPS.

Other equities research analysts also recently issued reports about the company. Cormark lowered their price objective on Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. Echelon Wealth Partners raised their price objective on Converge Technology Solutions from C$5.80 to C$6.25 and gave the company a “sector perform” rating in a report on Thursday, March 7th. Raymond James raised their target price on shares of Converge Technology Solutions from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. National Bankshares lifted their price target on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Finally, Eight Capital upped their price target on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$6.63.

Converge Technology Solutions Stock Down 1.6 %

CTS opened at C$4.30 on Friday. Converge Technology Solutions has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The business has a 50-day moving average of C$5.03 and a 200-day moving average of C$4.86. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of C$859.44 million, a PE ratio of -430.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.93.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 EPS for the quarter, hitting analysts’ consensus estimates of C$0.11. The company had revenue of C$628.77 million for the quarter, compared to the consensus estimate of C$661.10 million. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 8,197 shares of Converge Technology Solutions stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average cost of C$4.68 per share, with a total value of C$38,361.96. In related news, Senior Officer Avjit Kamboj sold 30,600 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$4.41, for a total value of C$134,946.00. Also, Senior Officer Greg Berard acquired 8,197 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of C$4.68 per share, with a total value of C$38,361.96. 5.45% of the stock is currently owned by company insiders.

Converge Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a $0.015 dividend. This is a boost from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.40%. Converge Technology Solutions’s dividend payout ratio is -600.00%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.