Converge Technology Solutions Corp. (TSE:CTS) Receives C$6.43 Consensus PT from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$6.43.

Several equities research analysts recently issued reports on the stock. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$6.00 to C$5.50 in a research report on Friday, August 9th. Cormark cut their target price on Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th. CIBC dropped their price target on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Friday, August 9th. Finally, Ventum Cap Mkts upgraded Converge Technology Solutions to a “strong-buy” rating in a report on Tuesday, June 25th.

Converge Technology Solutions Trading Up 0.2 %

Shares of Converge Technology Solutions stock opened at C$4.55 on Friday. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock’s 50 day simple moving average is C$4.37 and its 200-day simple moving average is C$4.78. The stock has a market cap of C$888.16 million, a P/E ratio of -5.68, a P/E/G ratio of 0.14 and a beta of 1.83. Converge Technology Solutions has a 1-year low of C$2.24 and a 1-year high of C$6.06.

Converge Technology Solutions (TSE:CTS) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. The company had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million. Analysts predict that Converge Technology Solutions will post 0.6347222 EPS for the current fiscal year.

Converge Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were paid a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.32%. Converge Technology Solutions’s payout ratio is currently -7.50%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.46% of the stock is currently owned by corporate insiders.

About Converge Technology Solutions

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.