Brokerages Set Converge Technology Solutions Corp. (TSE:CTS) Price Target at C$5.56

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$5.73.

A number of equities research analysts recently weighed in on the company. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Raymond James reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. National Bankshares cut shares of 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 report on Friday, October 25th. Ventum Financial cut Converge Technology Solutions from a “buy” rating to a “tender” rating and lowered their price objective for the stock from C$6.00 to C$5.50 in a research report on Monday. Finally, Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th.

Converge Technology Solutions Stock Down 0.2 %

TSE:CTS opened at C$5.40 on Friday. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -6.75, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The stock’s 50 day moving average price is C$3.48 and its two-hundred day moving average price is C$3.87.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts expect that Converge Technology Solutions will post 0.6884058 earnings per share for the current fiscal year.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were paid 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 1.11%. Converge Technology Solutions’s payout ratio is currently -7.50%.

About Converge Technology Solutions

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.