Converge Technology Solutions (TSE:CTS - Get Free Report) had its price objective increased by investment analysts at CIBC from C$4.00 to C$5.50 in a report released on Monday,BayStreet.CA reports. CIBC's target price indicates a potential upside of 1.66% from the stock's current price.
A number of other equities analysts also recently issued reports on the company. Ventum Financial raised their price target on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Scotiabank raised their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. TD Securities reduced their price target on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Stifel Canada upgraded shares of Converge Technology Solutions to a "strong-buy" rating in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group decreased their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Converge Technology Solutions has a consensus rating of "Moderate Buy" and an average price target of C$5.73.
View Our Latest Stock Report on Converge Technology Solutions
Converge Technology Solutions Stock Up 0.2 %
Shares of CTS stock traded up C$0.01 during mid-day 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 debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The stock has a market cap of C$1.02 billion, a price-to-earnings ratio of -6.49, a PEG ratio of 0.14 and a beta of 1.81. The business has a 50-day moving average price of C$3.61 and a 200 day moving average price of C$3.90.
Converge Technology Solutions (TSE:CTS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $0.10 EPS. Research analysts predict that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.
About Converge Technology Solutions
(
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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.
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