Converge Technology Solutions (TSE:CTS – Get Free Report) was downgraded by analysts at TD Securities from a “buy” rating to a “sell” rating in a report released on Monday, MarketBeat reports. They currently have a C$5.50 price target on the stock, up from their prior price target of C$4.50. TD Securities’ price objective would suggest a potential upside of 1.85% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. CIBC increased their price objective on Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday. Ventum Financial cut shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and lowered their target price for the stock from C$6.00 to C$5.50 in a research note on Monday. Finally, National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions has an average rating of “Moderate Buy” and an average target price of C$5.73.
View Our Latest Research Report on CTS
Converge Technology Solutions Stock Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS 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 period in the previous year, the firm earned $0.10 EPS. As a group, analysts anticipate that Converge Technology Solutions will post 0.6884058 earnings per share for the current year.
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.
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