Converge Technology Solutions Corporation (TSE:CTS – free report) – National Bank Financial equities research increased their earnings per share (EPS) estimates for Converge Technology Solutions’ fiscal year 2025 in a report issued on Wednesday, July 3. National Bank Financial analyst J. Xiao now expects the company to post earnings of $0.71 per share for the year, up from a previous estimate of $0.69. The current consensus estimate for Converge Technology Solutions’ full-year earnings is $0.54 per share.
Other equities research analysts have also recently issued research reports on the company. National Bankshares raised their price target on Converge Technology Solutions from C$6.00 to C$7.00 in a research note on Friday, May 10th. Bentham Cap Markets raised their price target on Converge Technology Solutions to a “strong buy” rating in a research note on Tuesday, June 25th. Cormark lowered their price target on Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. Finally, Scotiabank raised their price target on Converge Technology Solutions from C$7.00 to C$8.00 in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating, four have rated it with a buy rating and one has rated it with a strong buy rating. Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of C$6.63, according to MarketBeat data.
Get the latest analysis on Converge Technology Solutions
Price Performance of Converged Technology Solutions
Converge Technology Solutions shares opened trading at C$4.37 on Monday. Converge Technology Solutions’s low and high prices in the last 12 months were C$2.24 and C$6.06, respectively. The company’s debt-to-equity ratio is 58.49, current ratio is 0.93 and quick ratio is 0.68. The company’s 50-day simple moving average is C$4.91 and 200-day simple moving average is C$4.88. The company has a market capitalization of C$873.43 million, a price-to-earnings ratio (PE) of -437.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.93.
Converge Technology Solutions (TSE:CTS – Get free report ) last released its quarterly earnings data on Thursday, May 9th. The company reported CA$0.11 earnings per share for the quarter, beating the consensus estimate of CA$0.11. The company’s revenue for the quarter was CA$628.77 million, beating the consensus estimate of CA$661.10 million. Converge Technology Solutions had a return on equity of negative 1.08% and a net margin of negative 0.05%.
Insider Activities
In other news, Senior Officer Greg Berard bought 8,197 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were acquired at an average price of C$4.68 per share, for a total transaction value of C$38,361.96. In related news, Senior Officer Greg Berard acquired 8,197 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were acquired at an average price of C$4.68 per share, for a total transaction value of C$38,361.96. Also, Senior Officer Avjit Kamboj sold 30,600 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$4.41 per share, for a total transaction value of C$134,946.00. Company insiders own 5.45% of the company’s stock.
Converge Technology Solutions Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.015. This is an increase from Converge Technology Solutions’ previous quarterly dividend of $0.01. The ex-dividend date for this dividend was Wednesday, May 22nd. This equates to an annualized dividend of $0.06, or a yield of 1.37%. Converge Technology Solutions’ dividend payout ratio is currently -600.00%.
About Converge Technology Solutions
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Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. The company’s solutions approach provides advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure and digital workplace services to clients across a range of industries.
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