Scotiabank Cuts Converge Technology Solutions (TSE:CTS) Price Target to C$11.00

Converge Technology Solutions (TSE:CTSGet Rating) had its price objective cut by equities research analysts at Scotiabank from C$14.00 to C$11.00 in a research note issued on Monday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 104.08% from the company’s current price.

Other analysts have also recently issued reports about the company. National Bankshares cut their price objective on Converge Technology Solutions from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday, July 21st. Raymond James set a C$12.50 target price on Converge Technology Solutions and gave the stock an “outperform” rating in a report on Thursday, May 12th. Laurentian Bank of Canada reaffirmed a “buy” rating and issued a C$11.00 target price on shares of Converge Technology Solutions in a research report on Tuesday, June 21st. TD Securities decreased their price objective on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating for the company in a report on Thursday, May 12th. Finally, Cormark cut their target price on Converge Technology Solutions from C$11.50 to C$10.00 and set a “na” rating on the stock in a research note on Monday, June 27th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$11.60.

Converge Technology Solutions Stock Performance

Shares of TSE CTS opened at C$5.39 on Monday. The company has a market cap of C$1.16 billion and a P/E ratio of 107.80. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 28.01. Converge Technology Solutions has a 12 month low of C$4.85 and a 12 month high of C$13.09. The business’s 50 day moving average is C$5.42 and its two-hundred day moving average is C$6.68.

Converge Technology Solutions (TSE:CTSGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The firm had revenue of C$550.04 million for the quarter, compared to analyst estimates of C$497.63 million. On average, equities analysts expect that Converge Technology Solutions will post 0.64 EPS for the current year.

About Converge Technology Solutions

(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.

Read More

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

Receive News & Ratings for Converge Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Converge Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.