Converge Technology Solutions (CTS) Scheduled to Post Quarterly Earnings on Tuesday

Converge Technology Solutions (TSE:CTS) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, November 12th. Analysts expect Converge Technology Solutions to post earnings of C$0.14 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last announced its earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. The firm had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million.

Converge Technology Solutions Stock Up 2.7 %

TSE CTS opened at C$3.07 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a market cap of C$599.26 million, a price-to-earnings ratio of -3.84, a PEG ratio of 0.14 and a beta of 1.81. The company has a 50 day moving average of C$4.27 and a 200-day moving average of C$4.56. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Tuesday, August 27th. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Scotiabank cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group dropped their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and dropped their price objective for the company from C$6.00 to C$5.50 in a report on Friday, August 9th. Finally, Raymond James lowered their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$6.03.

Insider Activity at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were purchased 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 owned by corporate 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.