Analysts Set Converge Technology Solutions Corp. (TSE:CTS) Target Price at C$5.86

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$5.86.

CTS has been the topic of a number of recent analyst reports. Cormark lowered shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. Canaccord Genuity Group cut their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bank Financial lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, TD Securities decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th.

Converge Technology Solutions Stock Up 2.8 %

CTS opened at C$3.26 on Friday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock’s fifty day moving average is C$3.50 and its 200-day moving average is C$4.09. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The company has a market capitalization of C$636.35 million, a PE ratio of -4.08, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th will be given a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.84%. Converge Technology Solutions’s payout ratio is -7.50%.

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.