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

Shares of Converge Technology Solutions Corp. (TSE:CTSGet 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:CTSGet 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

(Get Rating)

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.

Further Reading

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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