Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating, four 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$5.86.

CTS has been the topic of several recent research reports. Raymond James lowered their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. CIBC lowered their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Ventum Financial lowered their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a report on Wednesday, November 13th. Finally, National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th.

Converge Technology Solutions Price Performance

Shares of TSE CTS opened at C$3.27 on Friday. The firm has a market cap of C$638.30 million, a P/E ratio of -4.09, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The business’s 50 day moving average is C$3.56 and its 200-day moving average is C$4.12. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

Converge Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.83%. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

Converge Technology Solutions Company Profile

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.