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

Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$5.73.

Several research analysts recently commented on CTS shares. TD Securities lowered Converge Technology Solutions from a "buy" rating to a "sell" rating and lifted their price target for the stock from C$4.50 to C$5.50 in a research report on Monday. Stifel Canada upgraded Converge Technology Solutions to a "strong-buy" rating in a research report on Wednesday, January 15th. Ventum Financial lowered Converge Technology Solutions from a "buy" rating to a "tender" rating and dropped their target price for the company from C$6.00 to C$5.50 in a research report on Monday. Scotiabank boosted their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday. Finally, Raymond James dropped their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th.

Converge Technology Solutions Price Performance

CTS remained flat at C$5.40 on Friday. The company had a trading volume of 4,751,988 shares, compared to its average volume of 1,395,944. The firm has a market cap of C$1.05 billion, a P/E ratio of -6.75, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The company's 50-day moving average is C$3.52 and its two-hundred day moving average is C$3.88.

Converge Technology Solutions (TSE:CTS - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. During the same period last year, the company earned $0.10 earnings per share. On average, analysts anticipate that Converge Technology Solutions will post 0.6884058 earnings per share for the current fiscal year.

Converge Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions's dividend payout ratio (DPR) is -7.50%.

About Converge Technology Solutions

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.