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.
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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
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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.
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