Converge Technology Solutions (TSE:CTS – Free Report) had its target price lowered by Raymond James from C$6.50 to C$4.50 in a report released on Friday, BayStreet.CA reports.
Several other equities analysts have also recently weighed in on CTS. Cormark lowered their price objective on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a research report on Friday, August 9th. TD Securities raised shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and reduced their price objective for the company from C$6.00 to C$5.50 in a research note on Friday, August 9th. Finally, CIBC reduced their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Friday, August 9th. Four 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$6.03.
Get Our Latest Stock Analysis on Converge Technology Solutions
Converge Technology Solutions Price Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.07. The business had revenue of C$651.85 million during the quarter, compared to analysts’ expectations of C$645.18 million. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. Analysts anticipate that Converge Technology Solutions will post 0.6884058 earnings per share for the current year.
Converge Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, August 27th. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -7.50%.
Insider Activity
In related news, Senior Officer Greg Berard bought 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Insiders own 5.97% of the company’s stock.
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.
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