Analysts Set Expectations for TSE:CTS Q4 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Equities research analysts at National Bank Financial dropped their Q4 2024 earnings per share estimates for Converge Technology Solutions in a research note issued on Thursday, October 24th. National Bank Financial analyst J. Shao now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.15. National Bank Financial currently 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 $0.55 EPS.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group decreased their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday. CIBC reduced their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday. TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and lowered their price objective for the stock from C$6.00 to C$5.50 in a research note on Friday, August 9th. Cormark cut their target price on Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th. Finally, National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$6.00 to C$4.50 in a research report on Friday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average target price of C$6.03.

Converge Technology Solutions Stock Performance

TSE:CTS opened at C$3.15 on Monday. The company has a market cap of C$614.88 million, a P/E ratio of -3.94, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a twelve month low of C$2.67 and a twelve month high of C$6.06. The company’s 50-day moving average price is C$4.43 and its 200-day moving average price is C$4.64. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. The company had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million.

Insiders Place Their Bets

In related news, Senior Officer Greg Berard acquired 10,105 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by insiders.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, September 10th were given a $0.015 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.90%. 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.