Q4 Earnings Forecast for TSE:CTS Issued By Ventum Cap Mkts

Converge Technology Solutions Corp. (TSE:CTS - Free Report) - Equities research analysts at Ventum Cap Mkts lowered their Q4 2024 earnings estimates for shares of Converge Technology Solutions in a report issued on Wednesday, November 13th. Ventum Cap Mkts analyst R. Goff now anticipates that the company will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.09. The consensus estimate for Converge Technology Solutions' current full-year earnings is $0.69 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions' Q1 2025 earnings at $0.05 EPS.

Other equities research analysts also recently issued reports about the stock. TD Securities dropped their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday. Ventum Financial lowered their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. Raymond James cut their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. CIBC lowered their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Finally, Scotiabank downgraded Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$5.86.

Converge Technology Solutions Stock Down 1.4 %

Shares of Converge Technology Solutions stock traded down C$0.05 on Friday, reaching C$3.55. 686,304 shares of the company were exchanged, compared to its average volume of 543,845. The stock's 50 day moving average price is C$4.09 and its 200-day moving average price is C$4.44. The company has a market cap of C$692.96 million, a P/E ratio of -4.50, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68.

Insider Buying and Selling at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company's stock.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.69%. Converge Technology Solutions's dividend payout ratio is currently -7.50%.

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.