Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.86 Consensus PT from Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$5.86.

Several brokerages have weighed in on CTS. Ventum Financial lowered their target price on Converge Technology Solutions from C$6.20 to C$5.20 in a report on Wednesday, November 13th. National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$6.00 to C$4.50 in a research note on Friday, October 25th. TD Securities cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th.

Converge Technology Solutions Price Performance

Shares of TSE CTS opened at C$3.27 on Friday. The stock has a 50 day moving average price of C$3.53 and a 200 day moving average price of C$4.11. The firm has a market capitalization of C$638.30 million, a price-to-earnings ratio of -4.09, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Saturday, December 28th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) 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.