Converge Technology Solutions (TSE:CTS) Price Target Raised to C$154.00

Converge Technology Solutions (TSE:CTS) had its price target upped by Canaccord Genuity Group from C$153.00 to C$154.00 in a research report report published on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on CTS. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the stock a “hold” rating in a report on Thursday, January 16th. TD Securities raised shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group cut their price objective on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating for the company in a research report on Friday. CIBC increased their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. Finally, Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of C$28.83.

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$5.44 on Friday. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The company has a 50-day simple moving average of C$4.32 and a two-hundred day simple moving average of C$4.05. The firm has a market capitalization of C$1.03 billion, a PE ratio of -6.52, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Dividend Announcement

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

About Converge Technology Solutions

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.