Converge Technology Solutions Corp. (TSE:CTS) Given Average Rating of “Moderate Buy” by Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$5.93.

CTS has been the topic of several recent research reports. TD Securities decreased their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Canaccord Genuity Group cut their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, CIBC cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th.

Converge Technology Solutions Price Performance

Converge Technology Solutions stock opened at C$3.65 on Tuesday. 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 1.00 and a debt-to-equity ratio of 99.08. The firm’s 50-day simple moving average is C$3.39 and its 200 day simple moving average is C$3.96. The firm has a market capitalization of C$712.48 million, a PE ratio of -4.56, a P/E/G ratio of 0.14 and a beta of 1.81.

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 paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is currently -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.