Converge Technology Solutions (CTS) to Release Quarterly Earnings on Thursday

Converge Technology Solutions (TSE:CTS) will be posting its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Converge Technology Solutions to post earnings of C$0.11 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.03%. The business had revenue of C$651.09 million for the quarter, compared to the consensus estimate of C$712.08 million.

Converge Technology Solutions Trading Down 1.7 %

Shares of CTS stock opened at C$5.26 on Thursday. The company has a debt-to-equity ratio of 71.05, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a fifty day simple moving average of C$5.47 and a two-hundred day simple moving average of C$4.44. The firm has a market capitalization of C$1.07 billion, a PE ratio of -526.00, a PEG ratio of 0.14 and a beta of 1.91. Converge Technology Solutions has a 52-week low of C$2.24 and a 52-week high of C$6.06.

Converge Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, March 11th. Converge Technology Solutions’s dividend payout ratio is currently -400.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTS. Desjardins upped 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 report on Thursday, March 7th. Echelon Wealth Partners boosted their target price on Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a “sector perform” rating in a research report on Thursday, March 7th. TD Securities increased their price target on Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research note on Thursday, March 7th. Scotiabank boosted their price target on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a research report on Thursday, March 14th. Finally, Raymond James lifted 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$6.47.

Insiders Place Their Bets

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 8,775 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average price of C$5.80 per share, with a total value of C$50,895.00. Insiders bought a total of 11,590 shares of company stock valued at $66,944 over the last 90 days. Insiders own 5.83% of the company’s stock.

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.