Converge Technology Solutions (TSE:CTS) Rating Lowered to Tender at Ventum Financial

Ventum Financial lowered shares of Converge Technology Solutions (TSE:CTS - Free Report) from a buy rating to a tender rating in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have C$5.50 price objective on the stock, down from their previous price objective of C$6.00.

A number of other brokerages also recently commented on CTS. Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the stock a "hold" rating in a research note on Thursday, January 16th. Canaccord Genuity Group dropped their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bankshares lowered Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from C$6.00 to C$4.50 in a research report on Friday, October 25th. Scotiabank upped their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a report on Friday, February 7th. Finally, National Bank Financial lowered Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Converge Technology Solutions has an average rating of "Moderate Buy" and an average target price of C$5.73.

Converge Technology Solutions Trading Up 0.2 %

Shares of TSE CTS traded up C$0.01 during midday trading on Monday, hitting C$5.41. The company's stock had a trading volume of 1,826,823 shares, compared to its average volume of 1,417,046. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. The business's 50 day moving average is C$3.61 and its two-hundred day moving average is C$3.90. Converge Technology Solutions has a 12-month low of C$2.90 and a 12-month high of C$6.06. The firm has a market cap of C$1.02 billion, a P/E ratio of -6.49, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions (TSE:CTS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, topping analysts' consensus estimates of C$0.08 by C$0.04. Converge Technology Solutions had a negative net margin of 6.35% and a negative return on equity of 34.40%. During the same period in the previous year, the firm earned $0.10 EPS. As a group, equities research analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current year.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions's payout ratio is presently -7.20%.

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.