Converge Technology Solutions Corp. to Post Q3 2021 Earnings of $0.06 Per Share, Desjardins Forecasts (TSE:CTS)

Converge Technology Solutions Corp. (TSE:CTS) – Research analysts at Desjardins reduced their Q3 2021 EPS estimates for shares of Converge Technology Solutions in a research note issued to investors on Wednesday, May 12th. Desjardins analyst K. Krishnaratne now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.07. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Converge Technology Solutions’ Q3 2021 earnings at $0.06 EPS, Q4 2021 earnings at $0.11 EPS, FY2021 earnings at $0.26 EPS and FY2022 earnings at $0.44 EPS.

Several other brokerages have also recently commented on CTS. Canaccord Genuity upped their target price on shares of Converge Technology Solutions to C$9.50 and gave the company a “buy” rating in a research report on Monday, April 5th. Raymond James reiterated an “outperform” rating and set a C$8.75 target price on shares of Converge Technology Solutions in a research report on Wednesday. Eight Capital upped their target price on shares of Converge Technology Solutions to C$11.00 and gave the company a “na” rating in a research report on Wednesday. Finally, Cormark restated a “buy” rating and issued a C$9.50 price objective on shares of Converge Technology Solutions in a research report on Friday, April 30th. Four investment analysts have rated the stock with a buy rating, Converge Technology Solutions currently has an average rating of “Buy” and a consensus target price of C$9.69.

TSE:CTS opened at C$6.67 on Friday. The stock’s fifty day moving average price is C$5.79. Converge Technology Solutions has a 52-week low of C$1.21 and a 52-week high of C$7.73. The company has a debt-to-equity ratio of 84.17, a quick ratio of 0.75 and a current ratio of 0.95. The firm has a market cap of C$1.09 billion and a P/E ratio of 952.86.

About Converge Technology Solutions

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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Earnings History and Estimates for Converge Technology Solutions (TSE:CTS)

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