What is Cormark's Estimate for TSE:CTS FY2024 Earnings?

Converge Technology Solutions Corp. (TSE:CTS - Free Report) - Research analysts at Cormark boosted their FY2024 earnings per share estimates for shares of Converge Technology Solutions in a research note issued to investors on Wednesday, November 13th. Cormark analyst G. Fairweather now anticipates that the company will earn $0.54 per share for the year, up from their previous estimate of $0.49. Cormark has a "Hold" rating on the stock. The consensus estimate for Converge Technology Solutions' current full-year earnings is $0.69 per share. Cormark also issued estimates for Converge Technology Solutions' FY2025 earnings at $0.61 EPS.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group cut their price target 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 lowered their target price for the company from C$6.00 to C$4.50 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. TD Securities decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. Finally, National Bank Financial downgraded Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.86.

Converge Technology Solutions Stock Down 1.4 %

Shares of CTS traded down C$0.05 during midday trading on Friday, reaching C$3.55. 686,304 shares of the stock were exchanged, compared to its average volume of 543,845. 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 50 day simple moving average of C$4.09 and a 200-day simple moving average of C$4.44. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The company has a market cap of C$692.96 million, a price-to-earnings ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81.

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 $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions's dividend payout ratio is presently -7.50%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 10,105 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is currently owned by company insiders.

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.