What is Ventum Cap Mkts’ Estimate for TSE:CTS Q4 Earnings?

Converge Technology Solutions Corp. (TSE:CTS) – Equities research analysts at Ventum Cap Mkts lowered their Q4 2024 earnings estimates for shares of Converge Technology Solutions in a report released on Wednesday, November 13th. Ventum Cap Mkts analyst R. Goff now anticipates that the company will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.09. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q1 2025 earnings at $0.05 EPS.

Several other research analysts also recently issued reports on CTS. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group reduced their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Raymond James dropped their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. 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. Finally, Ventum Financial lowered their price objective on Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Price Performance

CTS stock opened at C$3.55 on Friday. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market cap of C$692.96 million, a price-to-earnings ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a 50 day simple moving average of C$4.07 and a 200 day simple moving average of C$4.43.

Insiders Place Their Bets

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

Converge Technology Solutions Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

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.