FY2022 EPS Estimates for Converge Technology Solutions Corp. (TSE:CTS) Reduced by Raymond James

Converge Technology Solutions Corp. (TSE:CTSGet Rating) – Equities research analysts at Raymond James reduced their FY2022 earnings per share (EPS) estimates for Converge Technology Solutions in a report issued on Wednesday, May 11th. Raymond James analyst S. Li now forecasts that the company will post earnings of $0.28 per share for the year, down from their prior forecast of $0.48. Raymond James currently has a “Outperform” rating and a $12.50 target price on the stock.

A number of other equities analysts also recently commented on CTS. TD Securities decreased their target price on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating for the company in a research note on Thursday. CIBC reduced their price objective on Converge Technology Solutions from C$12.50 to C$11.00 in a research report on Monday, January 31st. Desjardins reiterated a “buy” rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. National Bankshares set a C$14.00 price objective on Converge Technology Solutions and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Finally, Canaccord Genuity Group reduced their price objective on Converge Technology Solutions from C$14.50 to C$12.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Buy” and a consensus price target of C$13.06.

Shares of CTS stock opened at C$6.09 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.93. The business has a 50 day moving average of C$8.03 and a two-hundred day moving average of C$8.16. Converge Technology Solutions has a 52 week low of C$5.88 and a 52 week high of C$13.09. The company has a market cap of C$1.31 billion and a P/E ratio of 76.13.

Converge Technology Solutions Company Profile (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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Earnings History and Estimates for Converge Technology Solutions (TSE:CTS)

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