Converge Technology Solutions (TSE:CTS) Stock Rating Upgraded by TD Securities

TD Securities upgraded shares of Converge Technology Solutions (TSE:CTS) from a strong sell rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Scotiabank increased their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th. Finally, Ventum Financial cut shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and decreased their target price for the stock from C$6.00 to C$5.50 in a research note on Monday. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$5.73.

Converge Technology Solutions Price Performance

CTS opened at C$5.40 on Tuesday. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market capitalization of C$1.05 billion, a P/E ratio of -6.75, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company’s 50 day simple moving average is C$3.52 and its 200-day simple moving average is C$3.88. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

Converge Technology Solutions (TSE:CTS) last issued its earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, beating the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. During the same quarter in the previous year, the business posted $0.10 earnings per share. Sell-side analysts anticipate that Converge Technology Solutions will post 0.6884058 earnings per share for the current fiscal year.

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 1.11%. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

About Converge Technology Solutions

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.