National Bank Financial Weighs in on TSE:CTS Q4 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Equities researchers at National Bank Financial dropped their Q4 2024 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a research report issued to clients and investors on Thursday, October 24th. National Bank Financial analyst J. Shao now forecasts that the company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.15. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.55 EPS.

A number of other brokerages also recently weighed in on CTS. Raymond James reduced their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday. Cormark reduced their price objective on Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$6.00 to C$4.50 in a research report on Friday. CIBC dropped their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday. Finally, TD Securities raised shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their price target for the company from C$6.00 to C$5.50 in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of C$6.03.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$3.19 on Monday. Converge Technology Solutions has a 1 year low of C$2.60 and a 1 year high of C$6.06. The firm has a market capitalization of C$622.69 million, a price-to-earnings ratio of -3.99, a P/E/G 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. The firm’s 50 day simple moving average is C$4.45 and its 200 day simple moving average is C$4.65.

Converge Technology Solutions (TSE:CTS) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. The firm had revenue of C$651.85 million for the quarter, compared to the consensus estimate of C$645.18 million. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%.

Converge Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were issued a $0.015 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.88%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

Insider Buying and Selling

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought 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 corporate insiders.

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.