Ventum Cap Mkts Has Bearish Outlook for TSE:CTS Q4 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Stock analysts at Ventum Cap Mkts dropped their Q4 2024 EPS estimates for Converge Technology Solutions in a note issued to investors on Wednesday, November 13th. Ventum Cap Mkts analyst R. Goff now forecasts that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q1 2025 earnings at $0.05 EPS.

Other research analysts have also recently issued research reports about the company. Ventum Financial lowered their price objective on Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. CIBC dropped their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Canaccord Genuity Group reduced their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Raymond James dropped their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$3.60 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The stock has a market cap of C$702.72 million, a P/E ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81. The business’s 50 day moving average price is C$4.09 and its 200-day moving average price is C$4.44. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company’s stock.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Tuesday, December 10th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.67%. Converge Technology Solutions’s payout ratio is -7.50%.

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.