FY2024 Earnings Estimate for TSE:CTS Issued By Stifel Canada

Converge Technology Solutions Corp. (TSE:CTS - Free Report) - Research analysts at Stifel Canada issued their FY2024 earnings per share estimates for Converge Technology Solutions in a report issued on Wednesday, January 15th. Stifel Canada analyst S. Sukumar anticipates that the company will post earnings per share of $0.55 for the year. Stifel Canada has a "Strong-Buy" rating on the stock. The consensus estimate for Converge Technology Solutions' current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for Converge Technology Solutions' Q4 2024 earnings at $0.12 EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $0.69 EPS.

A number of other analysts also recently weighed in on CTS. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a "hold" rating in a research report on Thursday. Raymond James cut their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. National Bank Financial lowered shares of Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. TD Securities dropped their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group reduced 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. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Converge Technology Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.77.

Converge Technology Solutions Stock Performance

CTS stock traded up C$0.11 during trading hours on Monday, hitting C$3.60. 169,134 shares of the stock were exchanged, compared to its average volume of 470,107. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The firm has a market capitalization of C$702.72 million, a P/E ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a 50-day simple moving average of C$3.42 and a two-hundred day simple moving average of C$3.94.

Converge Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.67%. Converge Technology Solutions's dividend payout ratio (DPR) is presently -7.50%.

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.