Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Six 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. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$6.03.

CTS has been the topic of several analyst reports. Cormark lowered Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a research note on Friday, October 25th. National Bankshares downgraded Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. TD Securities upgraded Converge Technology Solutions from a "hold" rating to a "buy" rating and decreased their price target for the company from C$6.00 to C$5.50 in a research note on Friday, August 9th. Raymond James cut their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Finally, Scotiabank cut Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th.

Insider Buying and Selling

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought 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 owned by corporate insiders.

Converge Technology Solutions Stock Performance

Shares of CTS traded down C$0.03 on Thursday, reaching C$3.00. 1,519,573 shares of the stock traded hands, compared to its average volume of 513,677. The firm has a market cap of C$585.60 million, a price-to-earnings ratio of -3.75, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. Converge Technology Solutions has a 12 month low of C$2.72 and a 12 month high of C$6.06. The stock's 50-day moving average price is C$4.34 and its 200-day moving average price is C$4.59.

Converge Technology Solutions (TSE:CTS - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.07. The company had revenue of C$651.85 million for 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%. Equities analysts forecast that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 annualized dividend and a dividend yield of 2.00%. Converge Technology Solutions's payout ratio is presently -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.