Converge Technology Solutions Corp. (TSE:CTS) Expected to Post Q2 2024 Earnings of $0.11 Per Share

Converge Technology Solutions Corp. (TSE:CTS) – Equities research analysts at Ventum Cap Mkts issued their Q2 2024 earnings per share (EPS) estimates for Converge Technology Solutions in a research note issued on Tuesday, June 25th. Ventum Cap Mkts analyst R. Goff expects that the company will earn $0.11 per share for the quarter. Ventum Cap Mkts currently has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.54 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.16 EPS, FY2025 earnings at $0.59 EPS, FY2026 earnings at $0.68 EPS and FY2027 earnings at $0.82 EPS.

CTS has been the topic of several other research reports. Scotiabank increased their price objective on Converge Technology Solutions from C$7.00 to C$8.00 in a research note on Thursday, March 14th. CIBC increased their price objective on Converge Technology Solutions from C$4.50 to C$5.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Desjardins increased their price objective on Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Echelon Wealth Partners increased their price objective on Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a “sector perform” rating in a research note on Thursday, March 7th. Finally, National Bankshares increased their price objective on Converge Technology Solutions from C$6.00 to C$7.00 in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Converge Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of C$6.63.

Converge Technology Solutions Trading Down 1.6 %

Shares of TSE CTS opened at C$4.30 on Friday. The company has a debt-to-equity ratio of 58.49, a quick ratio of 0.68 and a current ratio of 0.93. The business’s 50 day moving average price is C$5.03 and its 200-day moving average price is C$4.87. Converge Technology Solutions has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The company has a market cap of C$859.44 million, a price-to-earnings ratio of -430.00, a PEG ratio of 0.14 and a beta of 1.93.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, hitting the consensus estimate 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 firm had revenue of C$628.77 million for the quarter, compared to the consensus estimate of C$661.10 million.

Converge Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.40%. This is a boost from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 22nd. Converge Technology Solutions’s payout ratio is presently -600.00%.

Insider Buying and Selling

In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$4.41, for a total transaction of C$134,946.00. In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$4.41, for a total transaction of C$134,946.00. Also, Senior Officer Greg Berard bought 8,197 shares of the stock in a transaction dated Tuesday, June 4th. The shares were bought at an average price of C$4.68 per share, for a total transaction of C$38,361.96. 5.45% of the stock is currently owned by insiders.

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.