Free Trial

Scotiabank Has Negative Forecast for TSE:CTS FY2024 Earnings

Converge Technology Solutions logo with Computer and Technology background

Converge Technology Solutions Corp. (TSE:CTS - Free Report) - Research analysts at Scotiabank reduced their FY2024 EPS estimates for Converge Technology Solutions in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst D. Goyal now forecasts that the company will earn $0.55 per share for the year, down from their previous estimate of $0.61. Scotiabank currently has a "Hold" rating on the stock. The consensus estimate for Converge Technology Solutions' current full-year earnings is $0.69 per share. Scotiabank also issued estimates for Converge Technology Solutions' FY2025 earnings at $0.56 EPS and FY2026 earnings at $0.65 EPS.

Other research analysts also recently issued research reports about the company. National Bankshares downgraded Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Canaccord Genuity Group reduced their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bank Financial lowered shares of Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Cormark cut shares of Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a report on Friday, October 25th. Finally, Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Six investment 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$5.93.

Get Our Latest Research Report on CTS

Converge Technology Solutions Stock Down 3.0 %

TSE:CTS traded down C$0.11 on Friday, reaching C$3.51. The stock had a trading volume of 485,034 shares, compared to its average volume of 519,903. Converge Technology Solutions has a 12-month low of C$2.90 and a 12-month high of C$6.06. The stock has a market cap of C$685.15 million, a P/E ratio of -4.39, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. 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 company has a 50-day moving average of C$3.38 and a 200 day moving average of C$3.97.

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 paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.71%. Converge Technology Solutions's dividend payout ratio (DPR) is -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

Earnings History and Estimates for Converge Technology Solutions (TSE:CTS)

Should You Invest $1,000 in Converge Technology Solutions Right Now?

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

7 AI Stocks to Invest In: An Introduction to AI Investing For Self-Directed Investors Cover

As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Pelosi Bets Big on AI: Her Top 5 Stock Picks
Risk vs. Reward: Why Analysts Predict Big Gains for Struggling SMCI
3 Quantum Computing Stocks to Watch in 2025 (That Aren’t Rigetti)

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines