Stifel Canada Comments on TSE:CTS FY2024 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Stock analysts at Stifel Canada issued their FY2024 EPS estimates for Converge Technology Solutions in a research report issued on Wednesday, January 15th. Stifel Canada analyst S. Sukumar forecasts that the company will post earnings per share of $0.55 for the year. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for Converge Technology Solutions’ Q4 2024 earnings at $0.12 EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $0.69 EPS.

Converge Technology Solutions (TSE:CTS) last announced its earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. During the same quarter in the previous year, the company earned $0.10 earnings per share.

A number of other analysts have also commented on CTS. Raymond James reduced their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. CIBC reduced their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Ventum Financial lifted their price objective on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, TD Securities decreased their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.77.

Converge Technology Solutions Stock Down 0.3 %

Shares of Converge Technology Solutions stock opened at C$3.59 on Monday. The stock’s fifty day moving average is C$3.42 and its 200-day moving average is C$3.93. The firm has a market capitalization of C$700.77 million, a PE ratio of -4.49, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 12-month low of C$2.90 and a 12-month high of C$6.06. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, December 10th. Converge Technology Solutions’s payout ratio is currently -7.50%.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.