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

Shares of Converge Technology Solutions Corp. (TSE:CTS) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$6.03.

Several equities research analysts recently commented on CTS shares. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Raymond James decreased their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and cut their target price for the stock from C$6.00 to C$5.50 in a report on Friday, August 9th. Finally, Canaccord Genuity Group decreased their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th.

Insider Activity

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$3.16 on Thursday. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The stock has a market cap of C$616.83 million, a PE ratio of -3.95, a PEG ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s fifty day moving average price is C$4.24 and its two-hundred day moving average price is C$4.54.

Converge Technology Solutions (TSE:CTS) last posted its earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.07. The firm had revenue of C$651.85 million during the quarter, compared to the consensus estimate of C$645.18 million. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. On average, equities analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

Converge Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.06 annualized dividend and a yield of 1.90%. Converge Technology Solutions’s payout ratio is -7.50%.

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.