Converge Technology Solutions Corp. (TSE:CTS - Free Report) - Equities researchers at National Bank Financial cut their Q4 2024 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a report released on Thursday, October 24th. National Bank Financial analyst J. Shao now anticipates that the company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.15. National Bank Financial currently has a "Hold" rating on the stock. The consensus estimate for Converge Technology Solutions' current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions' FY2025 earnings at $0.55 EPS.
A number of other brokerages have also recently weighed in on CTS. National Bankshares cut shares of Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from C$6.00 to C$4.50 in a research report on Friday. Raymond James decreased their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday. Cormark dropped their target price on Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. TD Securities upgraded Converge Technology Solutions from a "hold" rating to a "buy" rating and decreased their price target for the stock from C$6.00 to C$5.50 in a report on Friday, August 9th. Finally, CIBC dropped their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Converge Technology Solutions presently has an average rating of "Moderate Buy" and a consensus price target of C$6.03.
Check Out Our Latest Stock Analysis on CTS
Converge Technology Solutions Trading Down 1.3 %
Shares of TSE CTS traded down C$0.04 during trading on Monday, hitting C$3.15. 1,155,816 shares of the company traded hands, compared to its average volume of 497,255. The firm has a market capitalization of C$614.88 million, a P/E ratio of -3.99, a P/E/G ratio of 0.14 and a beta of 1.81. 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 50-day moving average price of C$4.45 and a 200-day moving average price of C$4.65. Converge Technology Solutions has a 1 year low of C$2.67 and a 1 year high of C$6.06.
Converge Technology Solutions (TSE:CTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.07. The company had revenue of C$651.85 million during the quarter, compared to analysts' expectations of C$645.18 million. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%.
Insider Buying and Selling
In related news, Senior Officer Greg Berard purchased 10,105 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by insiders.
Converge Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.90%. The ex-dividend date was Tuesday, August 27th. Converge Technology Solutions's dividend payout ratio is presently -7.50%.
About Converge Technology Solutions
(
Get Free Report)
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.
Featured Stories
Before you consider Converge Technology Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Converge Technology Solutions wasn't on the list.
While Converge Technology Solutions currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Growth stocks offer a lot of bang for your buck, and we've got the next upcoming superstars to strongly consider for your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
