Converge Technology Solutions (CTS) Set to Announce Quarterly Earnings on Tuesday

Converge Technology Solutions (TSE:CTS) is scheduled to release its earnings data before the market opens on Tuesday, November 12th. Analysts expect Converge Technology Solutions to post earnings of C$0.14 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. The company had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million.

Converge Technology Solutions Stock Performance

Shares of Converge Technology Solutions stock opened at C$3.29 on Friday. The company’s 50 day moving average price is C$4.15 and its two-hundred day moving average price is C$4.50. The firm has a market capitalization of C$642.21 million, a P/E ratio of -4.11, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.82%. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

Insider Transactions at Converge Technology Solutions

In related news, Senior Officer Greg Berard acquired 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company’s stock.

Analyst Upgrades and Downgrades

CTS has been the topic of a number of recent research reports. National Bankshares lowered Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group dropped their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, TD Securities upgraded Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their price objective for the company from C$6.00 to C$5.50 in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.03.

About Converge Technology Solutions

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.