Converge Technology Solutions Corp. (TSE:CTS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Rating) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$11.42.

Several research analysts have weighed in on the stock. Echelon Wealth Partners reissued a “buy” rating and issued a C$14.50 price target on shares of Converge Technology Solutions in a report on Thursday, April 7th. TD Securities dropped their price target on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating for the company in a report on Thursday, May 12th. Laurentian Bank of Canada reaffirmed a “buy” rating and issued a C$11.00 price objective on shares of Converge Technology Solutions in a report on Tuesday, June 21st. Scotiabank lifted their target price on Converge Technology Solutions from C$11.00 to C$12.00 in a report on Wednesday. Finally, National Bankshares decreased their price target on shares of Converge Technology Solutions from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research note on Thursday, July 21st.

Converge Technology Solutions Stock Down 0.3 %

CTS stock opened at C$6.11 on Friday. The business’s 50 day simple moving average is C$5.54 and its 200 day simple moving average is C$6.47. Converge Technology Solutions has a 1-year low of C$4.85 and a 1-year high of C$13.09. The firm has a market capitalization of C$1.31 billion and a PE ratio of 122.20. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 28.01.

Converge Technology Solutions (TSE:CTS – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The company had revenue of C$550.04 million during the quarter, compared to analyst estimates of C$497.63 million. As a group, research analysts anticipate that Converge Technology Solutions will post 0.64 EPS for the current year.

About Converge Technology Solutions

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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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