Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.86 Consensus PT from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$5.86.

CTS has been the subject of a number of research analyst reports. National Bankshares cut shares of Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and cut their target price for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Raymond James cut their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Canaccord Genuity Group reduced their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. TD Securities lowered their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Finally, National Bank Financial downgraded shares of Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th.

Converge Technology Solutions Price Performance

Shares of Converge Technology Solutions stock traded down C$0.05 during mid-day trading on Monday, reaching C$3.37. 793,860 shares of the stock were exchanged, compared to its average volume of 545,418. 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 market cap of C$657.82 million, a price-to-earnings ratio of -4.21, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The firm has a 50-day simple moving average of C$3.95 and a 200 day simple moving average of C$4.33. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, December 10th. Converge Technology Solutions's dividend payout ratio is presently -7.50%.

Insider Transactions at Converge Technology Solutions

In other news, Senior Officer Greg Berard acquired 10,105 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is owned by corporate insiders.

About Converge Technology Solutions

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.