FY2024 Earnings Forecast for TSE:CTS Issued By Stifel Canada

Converge Technology Solutions Corp. (TSE:CTSFree Report) – Equities research analysts at Stifel Canada issued their FY2024 earnings estimates for Converge Technology Solutions in a research note issued on Wednesday, January 15th. Stifel Canada analyst S. Sukumar forecasts that the company will earn $0.55 per share for the year. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for Converge Technology Solutions’ Q4 2024 earnings at $0.12 EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $0.69 EPS.

Other equities analysts have also issued reports about the stock. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. CIBC cut their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the stock a “hold” rating in a research note on Thursday, January 16th. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Finally, National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$5.77.

Check Out Our Latest Stock Report on Converge Technology Solutions

Converge Technology Solutions Price Performance

Converge Technology Solutions stock opened at C$3.60 on Monday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a market capitalization of C$702.72 million, a price-to-earnings ratio of -4.50, a PEG ratio of 0.14 and a beta of 1.81. The stock’s 50 day moving average is C$3.42 and its 200-day moving average is C$3.94.

Converge Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) is -7.50%.

About Converge Technology Solutions

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Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.

See Also

Earnings History and Estimates for Converge Technology Solutions (TSE:CTS)

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