Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Six research 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 company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$5.93.

CTS has been the subject of a number of analyst reports. Ventum Financial upped their price target on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. 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, November 13th. CIBC lowered their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Finally, Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th.

Converge Technology Solutions Stock Up 4.0 %

Shares of TSE:CTS opened at C$3.65 on Tuesday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The stock has a market capitalization of C$712.48 million, a P/E ratio of -4.56, a PEG ratio of 0.14 and a beta of 1.81. The stock has a 50-day simple moving average of C$3.39 and a 200-day simple moving average of C$3.96.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were given 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 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.