Converge Technology Solutions Corp. (TSE:CTS – Get Rating) – Research analysts at Raymond James dropped their FY2022 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a research note issued to investors on Wednesday, November 9th. Raymond James analyst S. Li now expects that the company will post earnings of $0.20 per share for the year, down from their prior forecast of $0.21. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.66 per share. Raymond James also issued estimates for Converge Technology Solutions’ Q4 2022 earnings at $0.07 EPS, FY2023 earnings at $0.41 EPS and FY2024 earnings at $0.48 EPS.
A number of other analysts have also commented on CTS. Canaccord Genuity Group decreased their price objective on Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday. BMO Capital Markets decreased their price objective on Converge Technology Solutions from C$9.00 to C$8.00 in a report on Friday. Cormark decreased their price objective on Converge Technology Solutions from C$10.00 to C$8.00 in a report on Thursday. Scotiabank decreased their price objective on Converge Technology Solutions from C$11.00 to C$10.00 in a report on Friday. Finally, CIBC cut their target price on Converge Technology Solutions from C$8.00 to C$7.00 and set a “neutral” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Converge Technology Solutions has an average rating of “Moderate Buy” and an average price target of C$10.34.
Converge Technology Solutions Stock Performance
Converge Technology Solutions (TSE:CTS – Get Rating) last issued its earnings results on Tuesday, August 9th. The company reported C$0.13 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.06. The firm had revenue of C$596.66 million during the quarter, compared to the consensus estimate of C$570.63 million.
Converge Technology Solutions Company Profile
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions in the United States and Canada. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
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