What is Scotiabank’s Forecast for TSE:CTS FY2024 Earnings?

Converge Technology Solutions Corp. (TSE:CTS) – Research analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a note issued to investors on Wednesday, January 8th. Scotiabank analyst D. Goyal now expects that the company will earn $0.55 per share for the year, down from their previous forecast of $0.61. Scotiabank has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Scotiabank also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.56 EPS and FY2026 earnings at $0.65 EPS.

CTS has been the topic of several other reports. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. National Bankshares lowered Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. TD Securities cut their price target on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. National Bank Financial cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average target price of C$5.93.

Converge Technology Solutions Stock Down 3.0 %

CTS opened at C$3.51 on Friday. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The business has a 50 day moving average of C$3.38 and a 200-day moving average of C$3.97. The stock has a market capitalization of C$685.15 million, a price-to-earnings ratio of -4.39, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s payout ratio is -7.50%.

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.