Converge Technology Solutions (TSE:CTS) Receives Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Converge Technology Solutions (TSE:CTS) in a report issued on Tuesday morning, Price Targets.com reports. Raymond James currently has a C$12.50 target price on the stock.

CTS has been the topic of a number of other research reports. TD Securities assumed coverage on shares of Converge Technology Solutions in a report on Tuesday, December 14th. They issued a hold rating and a C$13.00 price objective on the stock. Berenberg Bank reissued a buy rating and issued a C$18.25 price objective on shares of Converge Technology Solutions in a report on Monday, November 15th. Cormark raised their price objective on shares of Converge Technology Solutions to C$12.75 and gave the stock a buy rating in a report on Friday, November 12th. Laurentian Bank of Canada raised their price objective on shares of Converge Technology Solutions to C$12.50 and gave the stock a buy rating in a report on Friday, November 12th. Finally, Echelon Wealth Partners reaffirmed a speculative buy rating on shares of Converge Technology Solutions in a report on Thursday, November 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of C$13.00.

Shares of TSE CTS opened at C$9.44 on Tuesday. The firm’s 50-day moving average price is C$10.96 and its 200-day moving average price is C$11.02. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 3.09. The company has a market cap of C$2.01 billion and a PE ratio of 165.61. Converge Technology Solutions has a 52-week low of C$4.58 and a 52-week high of C$13.09.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings data on Wednesday, November 10th. The company reported C$0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.04). The company had revenue of C$367.35 million for the quarter, compared to the consensus estimate of C$367.50 million. As a group, equities research analysts anticipate that Converge Technology Solutions will post 0.4 EPS for the current fiscal year.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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