Converge Technology Solutions Corp. (TSE:CTS) Expected to Earn Q2 2024 Earnings of $0.11 Per Share

Converge Technology Solutions Corp. (TSE:CTS) – Investment analysts at Ventum Cap Mkts issued their Q2 2024 EPS estimates for Converge Technology Solutions in a research note issued on Tuesday, June 25th. Ventum Cap Mkts analyst R. Goff forecasts that the company will earn $0.11 per share for the quarter. Ventum Cap Mkts has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.54 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.16 EPS, FY2025 earnings at $0.59 EPS, FY2026 earnings at $0.68 EPS and FY2027 earnings at $0.82 EPS.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, hitting the consensus estimate of C$0.11. The firm had revenue of C$628.77 million for the quarter, compared to analysts’ expectations of C$661.10 million. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.08%.

Several other analysts have also recently weighed in on the stock. Raymond James upped their price objective on shares of Converge Technology Solutions from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. TD Securities upped their price objective on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the stock a “hold” rating in a research note on Thursday, March 7th. Cormark decreased their price objective on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. National Bankshares increased their price target on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a research note on Friday, May 10th. Finally, CIBC increased their price target on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$6.63.

Converge Technology Solutions Price Performance

Shares of Converge Technology Solutions stock opened at C$4.30 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 58.49. The stock has a market capitalization of C$859.44 million, a price-to-earnings ratio of -430.00, a P/E/G ratio of 0.14 and a beta of 1.93. Converge Technology Solutions has a 1-year low of C$2.24 and a 1-year high of C$6.06. The firm’s 50-day moving average price is C$5.03 and its two-hundred day moving average price is C$4.87.

Insider Buying and Selling at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Avjit Kamboj sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00. In other Converge Technology Solutions news, Senior Officer Avjit Kamboj sold 25,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00. Also, Senior Officer Greg Berard bought 8,197 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of C$4.68 per share, for a total transaction of C$38,361.96. Insiders own 5.45% of the company’s stock.

Converge Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a $0.015 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This is a boost from Converge Technology Solutions’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.40%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -600.00%.

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.