Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$6.63.
A number of research firms have weighed in on CTS. TD Securities increased their price objective on Converge Technology Solutions from C$4.25 to C$6.00 and gave the stock a “hold” rating in a research report on Thursday, March 7th. National Bankshares raised their price target on Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Cormark reduced their price target on Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday, May 10th. Desjardins raised their price target on Converge Technology Solutions from C$6.00 to C$7.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Eight Capital raised their price target on Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a report on Thursday, March 7th.
Check Out Our Latest Research Report on Converge Technology Solutions
Converge Technology Solutions Trading Down 1.3 %
TSE:CTS opened at C$4.71 on Monday. The stock’s 50 day moving average price is C$5.39 and its 200 day moving average price is C$4.79. The company has a market capitalization of C$941.39 million, a PE ratio of -471.00, a P/E/G ratio of 0.14 and a beta of 1.93. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 58.49. Converge Technology Solutions has a 52-week low of C$2.24 and a 52-week high of C$6.06.
Converge Technology Solutions (TSE:CTS – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.11. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%. The company had revenue of C$628.77 million during the quarter, compared to analysts’ expectations of C$661.10 million. On average, research analysts anticipate that Converge Technology Solutions will post 0.5411111 EPS for the current year.
Converge Technology Solutions Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.015 per share. This is an increase from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, May 22nd. This represents a $0.06 annualized dividend and a yield of 1.27%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -600.00%.
Insiders Place Their Bets
In related news, Senior Officer Greg Berard purchased 8,775 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was bought at an average price of C$5.80 per share, with a total value of C$50,895.00. Over the last 90 days, insiders purchased 11,590 shares of company stock valued at $66,944. Corporate insiders own 5.45% of the company’s stock.
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.
Further Reading
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