Converge Technology Solutions Corp. (TSE:CTS) Receives Average Rating of “Moderate Buy” from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$5.73.

Several analysts recently commented on CTS shares. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the stock a “hold” rating in a research note on Thursday, January 16th. Scotiabank lifted their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Friday, February 7th. CIBC increased their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th. Finally, Ventum Financial cut shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and cut their price objective for the company from C$6.00 to C$5.50 in a report on Monday, February 10th.

Converge Technology Solutions Price Performance

Shares of CTS opened at C$5.43 on Wednesday. The business’s 50-day moving average is C$4.19 and its two-hundred day moving average is C$4.02. The company has a market capitalization of C$1.02 billion, a P/E ratio of -6.51, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week 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.

Converge Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.10%. Converge Technology Solutions’s payout ratio is currently -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.