Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$5.86.

Several research analysts recently commented on the stock. Cormark lowered shares of Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a research note on Friday, October 25th. CIBC cut their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Scotiabank lowered Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. National Bank Financial downgraded Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group reduced their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th.

Converge Technology Solutions Price Performance

Converge Technology Solutions stock remained flat at C$3.27 during trading hours on Friday. 612,118 shares of the company's stock were exchanged, compared to its average volume of 542,749. The company has a market capitalization of C$638.30 million, a P/E ratio of -4.09, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The stock has a 50 day moving average of C$3.53 and a 200 day moving average of C$4.12. 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 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Saturday, December 28th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.83%. Converge Technology Solutions's dividend payout ratio (DPR) is presently -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.