FY2024 EPS Estimates for TSE:CTS Increased by Analyst

Converge Technology Solutions Corp. (TSE:CTS) – Equities researchers at National Bank Financial lifted their FY2024 EPS estimates for Converge Technology Solutions in a research report issued to clients and investors on Tuesday, November 12th. National Bank Financial analyst J. Shao now expects that the company will earn $0.54 per share for the year, up from their previous estimate of $0.52. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.59 EPS.

Several other research firms have also recently weighed in on CTS. CIBC decreased their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Ventum Financial dropped their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a report on Wednesday. Raymond James cut their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, Canaccord Genuity Group lowered their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Stock Down 1.4 %

CTS stock opened at C$3.55 on Friday. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The company has a market cap of C$692.96 million, a price-to-earnings ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The business has a 50 day moving average price of C$4.09 and a two-hundred day moving average price of C$4.44.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions’s payout ratio is -7.50%.

Insider Transactions at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Insiders own 5.97% of the company’s stock.

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.