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

Converge Technology Solutions Corp. (TSE:CTS) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$5.73.

Several equities analysts have recently commented on CTS shares. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a “hold” rating in a research report on Thursday, January 16th. Canaccord Genuity Group reduced their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Raymond James reduced their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Finally, CIBC increased their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday.

Converge Technology Solutions Price Performance

Converge Technology Solutions stock opened at C$5.40 on Friday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The stock’s 50 day moving average is C$3.56 and its 200-day moving average is C$3.89. 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 company has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -6.75, a PEG ratio of 0.14 and a beta of 1.81.

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

Converge Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were issued a $0.015 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend 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.