Converge Technology Solutions (CTS) to Release Earnings on Tuesday

Converge Technology Solutions (TSE:CTS) will post its quarterly earnings results before the market opens on Tuesday, November 12th. Analysts expect Converge Technology Solutions to post earnings of C$0.14 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. The business had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million.

Converge Technology Solutions Stock Performance

Converge Technology Solutions stock opened at C$3.07 on Tuesday. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a fifty day moving average price of C$4.27 and a two-hundred day moving average price of C$4.56. The firm has a market capitalization of C$599.26 million, a P/E ratio of -3.84, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, September 10th were given a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.95%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

Insider Transactions at Converge Technology Solutions

In other news, Senior Officer Greg Berard acquired 10,105 shares of Converge Technology Solutions stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of C$4.42 per share, with a total value of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTS shares. TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and reduced their target price for the stock from C$6.00 to C$5.50 in a report on Friday, August 9th. Scotiabank cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. CIBC cut their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Finally, National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$6.00 to C$4.50 in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.03.

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.