Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.56 Average PT from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$5.73.

Several research analysts recently commented on the stock. Scotiabank boosted 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. TD Securities raised shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Finally, Canaccord Genuity Group reduced their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th.

Converge Technology Solutions Price Performance

CTS opened at C$5.40 on Friday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The firm’s fifty day moving average is C$3.56 and its 200 day moving average is C$3.89. The stock has a market cap of C$1.05 billion, a price-to-earnings ratio of -6.75, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions (TSE:CTS) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, topping analysts’ consensus estimates 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 firm posted $0.10 earnings per share. On average, sell-side analysts forecast 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. Stockholders of record on Saturday, December 28th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.11%. Converge Technology Solutions’s payout ratio is -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.