Converge Technology Solutions (TSE:CTS) Rating Lowered to Hold at National Bank Financial

National Bank Financial lowered shares of Converge Technology Solutions (TSE:CTS) from a strong-buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

Other equities analysts also recently issued reports about the company. Raymond James dropped their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and dropped their price objective for the company from C$6.00 to C$5.50 in a report on Friday, August 9th. Canaccord Genuity Group reduced their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday. Finally, Cormark cut their price target on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$6.03.

Converge Technology Solutions Trading Down 5.6 %

Shares of Converge Technology Solutions stock opened at C$3.19 on Thursday. The firm has a market capitalization of C$622.69 million, a PE ratio of -3.99, 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. The firm’s 50 day moving average is C$4.45 and its 200 day moving average is C$4.65. Converge Technology Solutions has a 1 year low of C$2.60 and a 1 year high of C$6.06.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. The company had revenue of C$651.85 million during the quarter, compared to the consensus estimate of C$645.18 million. Equities research analysts forecast that Converge Technology Solutions will post 0.6884058 earnings per share for the current fiscal year.

Converge Technology Solutions Announces Dividend

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. This represents a $0.06 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, August 27th. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

Insider Buying and Selling at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 10,105 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company’s stock.

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.