Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of “Moderate Buy” by Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$5.86.

Several research analysts recently commented on CTS shares. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Cormark cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. Ventum Financial lowered their target price on Converge Technology Solutions from C$6.20 to C$5.20 in a research report on Wednesday, November 13th. Canaccord Genuity Group reduced their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Finally, Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th.

Converge Technology Solutions Stock Performance

TSE:CTS opened at C$3.27 on Friday. The company has a market cap of C$638.30 million, a P/E ratio of -4.09, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The business has a 50 day moving average price of C$3.56 and a two-hundred day moving average price of C$4.12. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.83%. Converge Technology Solutions’s dividend payout ratio (DPR) is -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.