FY2024 Earnings Estimate for TSE:CTS Issued By Stifel Canada

Converge Technology Solutions Corp. (TSE:CTS) – Stifel Canada issued their FY2024 earnings per share (EPS) estimates for Converge Technology Solutions in a research note issued to investors on Wednesday, January 15th. Stifel Canada analyst S. Sukumar anticipates that the company will post earnings per share of $0.55 for the year. Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for Converge Technology Solutions’ Q4 2024 earnings at $0.12 EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $0.69 EPS.

CTS has been the topic of several other research reports. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Scotiabank cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Ventum Financial raised their price objective on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$5.77.

Converge Technology Solutions Stock Up 3.2 %

CTS stock opened at C$3.60 on Monday. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The stock has a fifty day moving average of C$3.42 and a 200-day moving average of C$3.94. The company has a market capitalization of C$702.72 million, a price-to-earnings ratio of -4.50, a PEG ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were given a $0.015 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.67%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.