Converge Technology Solutions Corp. (CTS) to Issue Quarterly Dividend of $0.02 on December 28th

Converge Technology Solutions Corp. (TSE:CTS) declared a quarterly dividend on Tuesday, December 10th,Zacks Dividends reports. Stockholders of record on Saturday, December 28th will be paid a dividend of 0.015 per share on Saturday, December 28th. This represents a $0.06 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, December 10th.

Converge Technology Solutions Trading Down 0.9 %

Shares of Converge Technology Solutions stock opened at C$3.31 on Friday. The company has a 50 day simple moving average of C$3.77 and a two-hundred day simple moving average of C$4.23. The firm has a market cap of C$646.11 million, a PE ratio of -4.14, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. CIBC cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Cormark lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. National Bank Financial cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$6.00 to C$4.50 in a research report on Friday, October 25th. Finally, Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$5.86.

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.