What is Cormark’s Estimate for TSE:CTS FY2024 Earnings?

Converge Technology Solutions Corp. (TSE:CTS) – Stock analysts at Cormark boosted their FY2024 earnings estimates for shares of Converge Technology Solutions in a research note issued on Wednesday, November 13th. Cormark analyst G. Fairweather now anticipates that the company will earn $0.54 per share for the year, up from their prior forecast of $0.49. Cormark has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Cormark also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.61 EPS.

Other equities analysts have also recently issued research reports about the company. TD Securities dropped their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. CIBC reduced their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Canaccord Genuity Group decreased their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Raymond James dropped their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment 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.com, Converge Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Trading Down 1.4 %

CTS opened at C$3.55 on Friday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock’s 50 day moving average price is C$4.07 and its 200-day moving average price is C$4.43. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The stock has a market cap of C$692.96 million, a price-to-earnings ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81.

Insider Activity

In other news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. Company insiders own 5.97% of the company’s stock.

Converge Technology Solutions Announces Dividend

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