Converge Technology Solutions (TSE:CTS – Get Free Report) was downgraded by equities researchers at National Bank Financial from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.
A number of other analysts have also issued reports on the stock. Cormark dropped their price objective on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th. TD Securities raised shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$6.00 to C$5.50 in a research report on Friday, August 9th. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday. Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday. Finally, National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$6.00 to C$4.50 in a report on Friday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$6.03.
Check Out Our Latest Research Report on CTS
Converge Technology Solutions Trading Down 5.6 %
Converge Technology Solutions (TSE:CTS – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.07. The company had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. Analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.
Insider Activity
In other news, Senior Officer Greg Berard purchased 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, with a total value of C$44,684.31. Corporate insiders own 5.97% 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.
Recommended Stories
- Five stocks we like better than Converge Technology Solutions
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Roth IRA Calculator: Calculate Your Potential Returns
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- Golden Cross Stocks: Pattern, Examples and Charts
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for Converge Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Converge Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.