Eight Capital Lowers Converge Technology Solutions (TSE:CTS) Price Target to C$11.00

Converge Technology Solutions (TSE:CTSGet Rating) had its target price reduced by stock analysts at Eight Capital from C$14.50 to C$11.00 in a research report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Eight Capital’s price objective points to a potential upside of 80.33% from the stock’s previous close.

A number of other research analysts have also recently issued reports on CTS. Canaccord Genuity Group decreased their target price on Converge Technology Solutions from C$14.50 to C$12.00 in a research report on Thursday, May 12th. TD Securities cut their price target on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating on the stock in a research note on Thursday, May 12th. Raymond James set a C$12.50 price target on Converge Technology Solutions and gave the company an “outperform” rating in a research note on Thursday, May 12th. National Bank Financial reissued an “outperfrom under weight” rating on shares of Converge Technology Solutions in a research note on Tuesday, April 26th. Finally, Echelon Wealth Partners reissued a “buy” rating and set a C$14.50 price target on shares of Converge Technology Solutions in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Converge Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of C$11.63.

Converge Technology Solutions Stock Down 0.2 %

Shares of TSE CTS opened at C$6.10 on Thursday. The company has a debt-to-equity ratio of 28.01, a quick ratio of 0.89 and a current ratio of 1.14. Converge Technology Solutions has a 52 week low of C$4.85 and a 52 week high of C$13.09. The stock has a market capitalization of C$1.31 billion and a P/E ratio of 122.00. The stock’s fifty day moving average is C$5.58 and its 200 day moving average is C$6.43.

Converge Technology Solutions (TSE:CTSGet Rating) last released its earnings results on Tuesday, May 10th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The business had revenue of C$550.04 million during the quarter, compared to the consensus estimate of C$497.63 million. Sell-side analysts forecast that Converge Technology Solutions will post 0.64 earnings per share for the current fiscal year.

Converge Technology Solutions Company Profile

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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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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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