Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$6.47.
CTS has been the subject of several recent analyst reports. Eight Capital upped their target price on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Scotiabank boosted their target price on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a report on Thursday, March 14th. TD Securities upped their target price on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a report on Thursday, March 7th. Raymond James lifted their target price on 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. Finally, Desjardins raised their target price on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th.
Read Our Latest Research Report on Converge Technology Solutions
Converge Technology Solutions Stock Up 2.7 %
Converge Technology Solutions (TSE:CTS – Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.07. The firm had revenue of C$651.09 million during the quarter, compared to the consensus estimate of C$712.08 million. Converge Technology Solutions had a negative return on equity of 1.03% and a negative net margin of 0.05%. Analysts predict that Converge Technology Solutions will post 0.599777 earnings per share for the current year.
Converge Technology Solutions Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, March 11th. This represents a $0.04 annualized dividend and a yield of 0.70%. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -400.00%.
Insider Transactions at Converge Technology Solutions
In other news, Senior Officer Greg Berard acquired 8,775 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average price of C$5.80 per share, for a total transaction of C$50,895.00. Insiders have acquired 11,590 shares of company stock worth $66,944 in the last 90 days. Insiders own 5.83% of the company’s stock.
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.
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