Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine brokerages that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$28.83.
A number of analysts have commented on CTS shares. Ventum Financial downgraded shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and cut their price objective for the company from C$6.00 to C$5.50 in a report on Monday, February 10th. TD Securities upgraded shares of Converge Technology Solutions from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Jefferies Financial Group cut their price objective on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a "hold" rating for the company in a report on Friday. Scotiabank increased their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th. Finally, Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the company a "hold" rating in a research note on Thursday, January 16th.
Check Out Our Latest Stock Analysis on CTS
Converge Technology Solutions Price Performance
CTS stock traded down C$0.01 during mid-day trading on Wednesday, reaching C$5.44. The company's stock had a trading volume of 1,638,860 shares, compared to its average volume of 1,614,807. The stock has a market cap of C$1.03 billion, a PE ratio of -6.52, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The company's 50 day moving average is C$4.32 and its two-hundred day moving average is C$4.05.
Converge Technology Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were given 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 payout ratio is currently -7.20%.
About Converge Technology Solutions
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Get Free ReportConverge 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.
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