TSE:CTS FY2024 EPS Lifted by National Bank Financial

Converge Technology Solutions Corp. (TSE:CTS) – Analysts at National Bank Financial boosted their FY2024 EPS estimates for Converge Technology Solutions in a research note issued to investors on Tuesday, November 12th. National Bank Financial analyst J. Shao now anticipates that the company will earn $0.54 per share for the year, up from their previous forecast of $0.52. National Bank Financial currently 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.

Other analysts also recently issued research reports about the stock. TD Securities lowered their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday. Canaccord Genuity Group dropped their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. National Bankshares lowered 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 research report on Friday, October 25th. Ventum Financial cut their price target on Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday. Finally, CIBC lowered their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.86.

Converge Technology Solutions Trading Down 0.8 %

Shares of CTS opened at C$3.60 on Friday. The stock has a market cap of C$702.72 million, a PE ratio of -4.58, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The stock’s 50-day moving average is C$4.10 and its two-hundred day moving average is C$4.45.

Converge Technology Solutions Dividend Announcement

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

Insiders Place Their Bets

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

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.