Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$5.56.

A number of research analysts have recently commented on CTS shares. Raymond James cut their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Scotiabank upped their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday. Ventum Financial raised 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 report on Friday, January 3rd. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Finally, National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th.

Converge Technology Solutions Price Performance

Shares of Converge Technology Solutions stock opened at C$5.41 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The firm has a fifty day simple moving average of C$3.44 and a 200-day simple moving average of C$3.86. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of -6.76, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

Converge Technology Solutions (TSE:CTS) last released its earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $0.10 earnings per share. On average, sell-side analysts expect that Converge Technology Solutions will post 0.6884058 earnings per share for the current year.

Converge Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.11%. Converge Technology Solutions’s dividend 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.