Converge Technology Solutions (CTS) to Release Earnings on Thursday

Converge Technology Solutions (TSE:CTS) will issue its quarterly earnings data before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of C$0.12 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 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 the consensus estimate of C$661.10 million.

Converge Technology Solutions Stock Performance

TSE:CTS traded up C$0.15 during trading hours on Tuesday, reaching C$4.15. The stock had a trading volume of 437,791 shares, compared to its average volume of 486,004. The stock has a market cap of C$829.46 million, a P/E ratio of -416.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.93. The stock has a 50 day simple moving average of C$4.47 and a 200 day simple moving average of C$4.91. The company has a debt-to-equity ratio of 58.49, a quick ratio of 0.68 and a current ratio of 0.93. Converge Technology Solutions has a 12-month low of C$2.24 and a 12-month high of C$6.06.

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. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.06 annualized dividend and a yield of 1.45%. This is a positive change from Converge Technology Solutions’s previous quarterly dividend of $0.01. Converge Technology Solutions’s dividend payout ratio (DPR) is -600.00%.

Insider Activity at Converge Technology Solutions

In other news, Senior Officer Avjit Kamboj sold 25,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00. In related news, Senior Officer Greg Berard acquired 8,197 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average cost of C$4.68 per share, for a total transaction of C$38,361.96. Also, Senior Officer Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total transaction of C$115,500.00. 5.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cormark dropped their price objective on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday, May 10th. Ventum Cap Mkts upgraded shares of Converge Technology Solutions to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$6.63.

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.