National Bank Financial Estimates TSE:CTS FY2024 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – National Bank Financial lifted their FY2024 earnings estimates for Converge Technology Solutions in a note issued to investors on Tuesday, November 12th. National Bank Financial analyst J. Shao now forecasts that the company will post earnings per share of $0.54 for the year, up from their prior estimate of $0.52. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.59 EPS.

CTS has been the subject of a number of other reports. CIBC reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Canaccord Genuity Group decreased their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Raymond James cut their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Stock Down 0.8 %

Shares of TSE:CTS opened at C$3.60 on Friday. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market cap of C$702.72 million, a P/E ratio of -4.58, a P/E/G ratio of 0.14 and a beta of 1.81. The firm has a fifty day moving average price of C$4.10 and a 200 day moving average price of C$4.45.

Insider Transactions at Converge Technology Solutions

In related news, Senior Officer Greg Berard acquired 10,105 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

Converge Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

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.