Converge Technology Solutions (CTS) to Release Quarterly Earnings on Tuesday

Converge Technology Solutions (TSE:CTS) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, November 12th. Analysts expect the company to announce earnings of C$0.14 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last issued its earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of C$645.18 million.

Converge Technology Solutions Trading Up 3.8 %

Converge Technology Solutions stock opened at C$3.29 on Monday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a 50-day simple moving average of C$4.15 and a 200 day simple moving average of C$4.50. The stock has a market capitalization of C$642.21 million, a P/E ratio of -4.11, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 1.82%. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

Wall Street Analysts Forecast Growth

CTS has been the subject of several research reports. National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Cormark cut shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group reduced their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$6.03.

Insider Activity

In related news, Senior Officer Greg Berard bought 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is owned by company insiders.

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.