Brokerages Set Converge Technology Solutions Corp. (TSE:CTS) Price Target at C$5.93

Converge Technology Solutions Corp. (TSE:CTS) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$5.77.

A number of research analysts recently weighed in on CTS shares. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Ventum Financial boosted their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the stock a “hold” rating in a research report on Thursday. TD Securities decreased their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. Finally, Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$3.55 on Tuesday. 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 company has a market cap of C$692.96 million, a P/E ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. The stock has a 50-day moving average of C$3.41 and a two-hundred day moving average of C$3.95. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

Converge Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend 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.