FY2024 EPS Estimates for TSE:CTS Boosted by Analyst

Converge Technology Solutions Corp. (TSE:CTS) – Equities researchers at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Converge Technology Solutions in a report issued on Tuesday, November 12th. National Bank Financial analyst J. Shao now expects that the company will earn $0.54 per share for the year, up from their prior estimate of $0.52. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.59 EPS.

CTS has been the topic of several other research reports. Raymond James lowered their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Cormark cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Ventum Financial decreased their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Finally, Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$5.86.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$3.55 on Friday. The stock has a market capitalization of C$692.96 million, a PE ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company’s 50 day simple moving average is C$4.07 and its two-hundred day simple moving average is C$4.43. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68.

Insider Transactions at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 10,105 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is owned by insiders.

Converge Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Tuesday, December 10th will be paid a $0.015 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.69%. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

About Converge Technology Solutions

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.