Converge Technology Solutions Corp. (TSE:CTS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$5.73.

Several analysts have recently commented on CTS shares. TD Securities upgraded Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday. Canaccord Genuity Group cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Monday, February 10th. Canaccord Genuity Group decreased their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Ventum Financial cut Converge Technology Solutions from a “buy” rating to a “tender” rating and decreased their price target for the company from C$6.00 to C$5.50 in a report on Monday, February 10th. Finally, CIBC raised their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th.

Converge Technology Solutions Stock Performance

Shares of TSE:CTS opened at C$5.43 on Friday. The business’s fifty day moving average price is C$3.65 and its two-hundred day moving average price is C$3.91. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The stock has a market capitalization of C$1.02 billion, a price-to-earnings ratio of -6.51, a price-to-earnings-growth 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.

Converge Technology Solutions (TSE:CTS) last announced its earnings results on Tuesday, November 12th. The company reported C$0.12 EPS 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 quarter in the previous year, the firm earned $0.10 EPS. As a group, analysts predict that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

Converge Technology Solutions Announces Dividend

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