Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.56 Consensus Price Target from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$5.73.

A number of research analysts have recently commented on CTS shares. National Bank Financial lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Raymond James cut their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Ventum Financial lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and cut their price target for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. Finally, Canaccord Genuity Group lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Monday, February 10th.

Converge Technology Solutions Stock Up 0.2 %

CTS opened at C$5.43 on Friday. The business has a 50 day moving average price of C$3.65 and a 200 day moving average price of C$3.91. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a market cap of C$1.02 billion, a P/E ratio of -6.51, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions (TSE:CTS) last posted its earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 34.40% and a negative net margin of 6.35%. During the same period last year, the company posted $0.10 earnings per share. Research analysts forecast that Converge Technology Solutions will post 0.6884058 EPS for the current year.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) is -7.20%.

Converge Technology Solutions Company Profile

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.