Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is C$6.63.

Several analysts recently weighed in on the stock. Ventum Cap Mkts raised shares of Converge Technology Solutions to a “strong-buy” rating in a report on Tuesday, June 25th. National Bankshares raised their price objective on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Finally, Cormark lowered their target price on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the company’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 Greg Berard acquired 8,197 shares of Converge Technology Solutions stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of C$4.68 per share, for a total transaction of C$38,361.96. Also, 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 value of C$134,946.00. 5.45% of the stock is owned by company insiders.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$4.24 on Tuesday. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of C$847.45 million, a P/E ratio of -424.00, a P/E/G ratio of 0.14 and a beta of 1.93. The stock has a 50-day moving average of C$4.56 and a two-hundred day moving average of C$4.90. Converge Technology Solutions has a 1-year low of C$2.24 and a 1-year high of C$6.06.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share (EPS) for the quarter, meeting 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 business had revenue of C$628.77 million for the quarter, compared to analysts’ expectations of C$661.10 million. As a group, 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 was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.42%. The ex-dividend date was Wednesday, May 22nd. This is a boost from Converge Technology Solutions’s previous quarterly dividend of $0.01. Converge Technology Solutions’s payout ratio is -600.00%.

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.