Converge Technology Solutions (CTS) to Release Earnings on Thursday

Converge Technology Solutions (TSE:CTS) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Converge Technology Solutions to post earnings of C$0.11 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last announced its earnings results on Wednesday, March 6th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative return on equity of 1.03% and a negative net margin of 0.05%. The business had revenue of C$651.09 million during the quarter, compared to the consensus estimate of C$712.08 million.

Converge Technology Solutions Price Performance

Converge Technology Solutions stock opened at C$5.53 on Tuesday. The stock has a market capitalization of C$1.12 billion, a P/E ratio of -553.00, a P/E/G ratio of 0.14 and a beta of 1.91. The company’s fifty day moving average price is C$5.51 and its 200 day moving average price is C$4.51. The company has a debt-to-equity ratio of 71.05, a quick ratio of 0.68 and a current ratio of 1.04. Converge Technology Solutions has a 1 year low of C$2.24 and a 1 year high of C$6.06.

Converge Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, March 11th. Converge Technology Solutions’s payout ratio is -400.00%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 8,775 shares of Converge Technology Solutions stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of C$5.80 per share, for a total transaction of C$50,895.00. Over the last three months, insiders have acquired 11,590 shares of company stock worth $66,944. Insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTS. CIBC raised their price target on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Raymond James increased their price objective on Converge Technology Solutions from C$5.50 to C$6.50 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Echelon Wealth Partners lifted their target price on shares of Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a “sector perform” rating in a research note on Thursday, March 7th. Scotiabank increased their target price on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a research report on Thursday, March 14th. Finally, Desjardins boosted their price target on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of C$6.47.

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.