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

Shares of Converge Technology Solutions Corp. (TSE:CTS) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$5.86.

Several analysts recently issued reports on CTS shares. Ventum Financial decreased their target price on Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday, November 13th. Raymond James reduced their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, TD Securities decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th.

Converge Technology Solutions Stock Up 2.8 %

CTS opened at C$3.26 on Friday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The firm’s fifty day moving average is C$3.42 and its 200 day moving average is C$4.07. The stock has a market cap of C$636.35 million, a price-to-earnings ratio of -4.08, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06.

Converge Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.84%. Converge Technology Solutions’s payout ratio is currently -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.