Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.93 Consensus Price Target from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$5.77.

Several equities research analysts have recently commented on the stock. CIBC reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. National Bankshares lowered 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. Ventum Financial raised their price objective on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Canaccord Genuity Group reduced their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, Raymond James dropped their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th.

Converge Technology Solutions Price Performance

Shares of CTS stock opened at C$3.60 on Tuesday. The stock’s fifty day simple moving average is C$3.42 and its 200 day simple moving average is C$3.94. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The firm has a market cap of C$702.72 million, a price-to-earnings ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were given 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 yield of 1.67%. Converge Technology Solutions’s payout ratio is presently -7.50%.

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.