Q4 Earnings Estimate for TSE:CTS Issued By Ventum Cap Mkts

Converge Technology Solutions Corp. (TSE:CTS) – Equities researchers at Ventum Cap Mkts lowered their Q4 2024 EPS estimates for shares of Converge Technology Solutions in a report issued on Wednesday, November 13th. Ventum Cap Mkts analyst R. Goff now expects that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q1 2025 earnings at $0.05 EPS.

CTS has been the subject of a number of other research reports. Cormark lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. CIBC cut their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Canaccord Genuity Group decreased their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Ventum Financial cut their price objective on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. Finally, Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.86.

Converge Technology Solutions Trading Down 1.4 %

TSE:CTS opened at C$3.55 on Friday. The company has a market capitalization of C$692.96 million, a P/E ratio of -4.44, a PEG 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. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The firm has a fifty day simple moving average of C$4.07 and a 200-day simple moving average of C$4.44.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is owned by company insiders.

Converge Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) 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.