Brokerages Set Converge Technology Solutions Corp. (TSE:CTS) PT at C$5.73

Converge Technology Solutions Corp. (TSE:CTS) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$28.83.

A number of analysts have commented on the stock. CIBC upped their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Jefferies Financial Group lowered their target price on Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating for the company in a report on Friday. Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and increased their price target for the stock from C$5.00 to C$5.50 in a report on Friday. Finally, Stifel Canada upgraded shares of Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th.

Converge Technology Solutions Trading Down 0.2 %

TSE:CTS opened at C$5.44 on Wednesday. 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 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The firm’s fifty day moving average is C$4.32 and its 200-day moving average is C$4.05. The firm has a market cap of C$1.03 billion, a P/E ratio of -6.52, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.10%. Converge Technology Solutions’s dividend payout ratio is presently -7.20%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.