Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) has received an average rating of "Moderate Buy" from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$5.93.

Several brokerages have recently issued reports on CTS. Scotiabank downgraded Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. National Bank Financial lowered shares of Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. TD Securities cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. National Bankshares lowered shares of Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Finally, Ventum Financial upped their target price on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a "buy" rating in a report on Friday, January 3rd.

Converge Technology Solutions Price Performance

CTS traded down C$0.07 on Tuesday, reaching C$3.58. The company had a trading volume of 311,691 shares, compared to its average volume of 499,093. The company has a market capitalization of C$698.82 million, a P/E ratio of -4.48, a PEG ratio of 0.14 and a beta of 1.81. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The company has a fifty day moving average of C$3.39 and a 200-day moving average of C$3.96.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions's payout ratio is -7.50%.

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.