National Bank Financial Weighs in on TSE:CTS FY2024 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Research analysts at National Bank Financial increased their FY2024 earnings estimates for shares of Converge Technology Solutions in a report released on Tuesday, November 12th. National Bank Financial analyst J. Shao now anticipates that the company will post earnings per share of $0.54 for the year, up from their previous forecast of $0.52. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.59 EPS.

A number of other brokerages also recently weighed in on CTS. TD Securities reduced their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. Canaccord Genuity Group reduced their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. CIBC lowered their target price on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Cormark lowered shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Ventum Financial cut their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research report on Wednesday. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$3.55 on Friday. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The firm has a market capitalization of C$692.96 million, a price-to-earnings ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81. 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’s 50 day simple moving average is C$4.09 and its 200 day simple moving average is C$4.44.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions’s payout ratio is presently -7.50%.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Greg Berard acquired 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of C$4.42 per share, with a total value of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

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.