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

Shares of Converge Technology Solutions Corp. (TSE:CTSGet Rating) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$11.42.

CTS has been the topic of several research analyst reports. Cormark decreased their price target on Converge Technology Solutions from C$11.50 to C$10.00 and set a “na” rating on the stock in a research note on Monday, June 27th. National Bank Financial restated an “outperfrom under weight” rating on shares of Converge Technology Solutions in a research report on Tuesday, April 26th. CIBC decreased their price objective on shares of Converge Technology Solutions from C$11.00 to C$7.00 in a research report on Tuesday, June 14th. Canaccord Genuity Group dropped their target price on shares of Converge Technology Solutions from C$14.50 to C$12.00 in a report on Thursday, May 12th. Finally, Berenberg Bank reduced their price target on shares of Converge Technology Solutions from C$18.25 to C$14.00 in a report on Tuesday, May 31st.

Converge Technology Solutions Stock Down 0.3 %

CTS opened at C$6.11 on Friday. The company has a debt-to-equity ratio of 28.01, a current ratio of 1.14 and a quick ratio of 0.89. Converge Technology Solutions has a 12 month low of C$4.85 and a 12 month high of C$13.09. The stock has a market capitalization of C$1.31 billion and a P/E ratio of 122.20. The business has a 50 day simple moving average of C$5.54 and a 200-day simple moving average of C$6.47.

Converge Technology Solutions (TSE:CTSGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported C$0.10 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.04. The company had revenue of C$550.04 million for the quarter, compared to analysts’ expectations of C$497.63 million. On average, equities analysts anticipate that Converge Technology Solutions will post 0.64 earnings per share for the current fiscal 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.

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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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