Converge Technology Solutions Corp. (TSE:CTS – free report) – Ventum Cap Mkts lowered its third quarter 2024 earnings per share estimate for shares of Converge Technology Solutions in a report issued on Friday, August 9. Ventum Cap Mkts analyst R. Goff now expects the company to post earnings per share of $0.13 for the quarter, down from his previous estimate of $0.15. Ventum Cap Mkts rates the stock a “Strong-Buy”. The current consensus estimate for Converge Technology Solutions' full year earnings is $0.54 per share. Ventum Cap Mkts also expects Converge Technology Solutions to earn $0.15 per share in fourth-quarter 2024 earnings, $0.64 per share in fiscal 2025 earnings, $0.75 per share in fiscal 2026 earnings, and $0.92 per share in fiscal 2027 earnings.
Converge Technology Solutions (TSE:CTS – get free report ) announced its quarterly earnings results on Thursday, May 9th. The company reported CA$0.11 EPS for the quarter, meeting the consensus estimate of CA$0.11. Converge Technology Solutions had a negative ROE of -1.08% and a negative net margin of -0.05%. The company's revenue for the quarter was CA$628.77 million, beating analyst estimates of CA$661.10 million.
Several other equity research analysts have also commented on the stock. National Bancshares raised their price target on Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Cormark lowered their price target on Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday. CIBC lowered their price target on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Friday. Finally, TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and lowered their price target for the company from C$6.00 to C$5.50 in a report on Friday. Two investment analysts have rated the stock with a hold rating, five have rated it with a buy rating and one has rated it with a strong buy rating. The company currently has a consensus rating of “Moderate Buy” and an average price target of C$6.43, according to data from MarketBeat.com.
Read the latest CTS research report
Converge Technology Solutions shares up 1.5%
TSE:CTS opened at C$4.17 on Monday. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68. Converge Technology Solutions' one year low and high are C$2.24 and C$6.06. The company's 50-day moving average is C$4.41 and 200-day moving average is C$4.92. The company has a market capitalization of C$833.46 million, a P/E ratio of -417.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.93.
Converge Technology Solutions Announces Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, September 10th. Shareholders of record as of Tuesday, August 27th will be paid a dividend of $0.015. The ex-dividend date is Tuesday, August 27th. This equates to an annualized dividend of $0.06, for a dividend yield of 1.44%. Converge Technology Solutions has a dividend payout ratio of -600.00%.
Insider trading
In other news, Senior Executive, Avjit Kamboj sold 30,600 shares of the company's stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$4.41 per share, for a total transaction value of C$134,946.00. In other news, Senior Executive, Greg Berard bought 8,197 shares of Converge Technology Solutions stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of C$4.68 per share, for a total transaction value of C$38,361.96. Also, Senior Executive, Avjit Kamboj sold 30,600 shares of Converge Technology Solutions stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$4.41 per share, for a total transaction value of C$134,946.00. 5.45% of the stock is owned by company insiders.
Converge Technology Solutions Company Profile
(Get your free report)
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. The company's solutions approach provides advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure and digital workplace services to clients across a range of industries.
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