Canaccord Genuity Group cut shares of Converge Technology Solutions (TSE:CTS - Free Report) from a moderate buy rating to a hold rating in a research note issued to investors on Monday, February 10th,Zacks.com reports.
A number of other equities research analysts have also recently issued reports on CTS. National Bank Financial cut Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Raymond James reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Stifel Canada upgraded shares of Converge Technology Solutions to a "strong-buy" rating in a research note on Wednesday, January 15th. TD Securities upgraded Converge Technology Solutions from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Finally, Cormark upgraded Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$5.73.
Read Our Latest Research Report on Converge Technology Solutions
Converge Technology Solutions Stock Performance
Shares of Converge Technology Solutions stock traded up C$0.01 on Monday, reaching C$5.43. 1,297,503 shares of the company were exchanged, compared to its average volume of 1,422,368. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The firm has a market cap of C$1.02 billion, a price-to-earnings ratio of -6.51, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The company's 50-day moving average is C$3.69 and its two-hundred day moving average is C$3.91.
Converge Technology Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.10%. Converge Technology Solutions's dividend payout ratio (DPR) is presently -7.20%.
Converge Technology Solutions Company Profile
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Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.
Further Reading
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