Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$5.56.

Several equities research analysts have weighed in on the stock. CIBC lowered their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. Raymond James dropped their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Ventum Financial increased their price objective on Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th.

Converge Technology Solutions Stock Up 53.3 %

Shares of CTS opened at C$5.41 on Friday. The company has a market capitalization of C$1.06 billion, a P/E ratio of -6.76, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The business’s 50 day simple moving average is C$3.44 and its 200-day simple moving average is C$3.86. 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 (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 33.46% and a negative net margin of 6.10%. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts predict that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

Converge Technology Solutions Dividend Announcement

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 1.11%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s payout ratio is -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.