What is Cormark’s Estimate for TSE:CTS FY2024 Earnings?

Converge Technology Solutions Corp. (TSE:CTS) – Equities research analysts at Cormark upped their FY2024 earnings per share (EPS) estimates for Converge Technology Solutions in a research report issued to clients and investors on Wednesday, November 13th. Cormark analyst G. Fairweather now forecasts that the company will post earnings per share of $0.54 for the year, up from their previous estimate of $0.49. Cormark has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Cormark also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.61 EPS.

A number of other brokerages have also issued reports on CTS. Raymond James cut their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. TD Securities dropped their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. Canaccord Genuity Group reduced their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. CIBC dropped their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Finally, National Bank Financial lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$5.86.

Converge Technology Solutions Stock Performance

CTS opened at C$3.55 on Friday. The firm’s 50-day moving average price is C$4.07 and its 200-day moving average price is C$4.43. The company has a market cap of C$692.96 million, a P/E ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. 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 business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be given a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.69%. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

Insider Activity

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, for a total transaction 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.