Analysts Set Converge Technology Solutions Corp. (TSE:CTS) Target Price at C$5.73

Converge Technology Solutions Corp. (TSE:CTS) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$28.83.

CTS has been the topic of a number of research analyst reports. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the stock a “hold” rating in a report on Thursday, January 16th. Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and lifted their price target for the stock from C$5.00 to C$5.50 in a research note on Friday. CIBC lifted their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, TD Securities raised Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 11th.

Converge Technology Solutions Price Performance

TSE:CTS opened at C$5.44 on Wednesday. The business’s 50-day moving average price is C$4.32 and its 200 day moving average price is C$4.05. The firm has a market cap of C$1.03 billion, a P/E ratio of -6.52, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78.

Converge Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were paid a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.10%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.20%.

Converge Technology Solutions Company Profile

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.