Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$6.47.
A number of research firms recently issued reports on CTS. Eight Capital increased their price target on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. CIBC raised their target price on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. TD Securities raised their target price on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research note on Thursday, March 7th. Raymond James raised their target price on shares of Converge Technology Solutions from C$5.50 to C$6.50 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, Desjardins raised their target price on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the company a “buy” rating in a research note on Thursday, March 7th.
View Our Latest Stock Analysis on CTS
Converge Technology Solutions Price Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.03%. The company had revenue of C$651.09 million during the quarter, compared to the consensus estimate of C$712.08 million. On average, sell-side analysts forecast that Converge Technology Solutions will post 0.6002265 EPS for the current year.
Converge Technology Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Monday, March 11th. Converge Technology Solutions’s dividend payout ratio is currently -400.00%.
Insider Buying and Selling
In other news, Senior Officer Greg Berard bought 8,775 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of C$5.80 per share, with a total value of C$50,895.00. In the last quarter, insiders bought 11,590 shares of company stock valued at $66,944. Company insiders own 5.83% of the company’s stock.
Converge Technology Solutions Company Profile
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
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