Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Recommendation of “Moderate Buy” from Analysts
Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Rating) have earned a consensus rating of "Buy" from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$9.31.
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Several brokerages have recently issued reports on CTS. Scotiabank decreased their price objective on Converge Technology Solutions from C$11.00 to C$10.00 in a report on Friday, November 11th. CIBC decreased their price objective on Converge Technology Solutions from C$7.00 to C$5.25 in a report on Monday, December 12th. Canaccord Genuity Group decreased their price objective on Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday, November 10th. Eight Capital decreased their price objective on Converge Technology Solutions from C$11.00 to C$10.00 in a report on Thursday, November 10th. Finally, National Bankshares decreased their price objective on Converge Technology Solutions from C$12.00 to C$10.00 and set an "outperform" rating on the stock in a report on Tuesday, November 1st.
Insider Activity
In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 9,308 shares of the business's stock in a transaction on Friday, December 30th. The shares were bought at an average price of C$4.60 per share, with a total value of C$42,816.80. Following the transaction, the insider now directly owns 148,776 shares of the company's stock, valued at approximately C$684,369.60. In the last 90 days, insiders have purchased 22,462 shares of company stock valued at $94,120.
Converge Technology Solutions Stock Up 3.5 %
TSE CTS opened at C$5.58 on Friday. The stock's 50 day moving average is C$4.83 and its 200 day moving average is C$5.01. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 63.41. Converge Technology Solutions has a 12 month low of C$3.60 and a 12 month high of C$11.59. The stock has a market cap of C$1.17 billion and a PE ratio of 34.88.
Converge Technology Solutions (TSE:CTS - Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported C$0.10 EPS for the quarter, topping analysts' consensus estimates of C$0.07 by C$0.03. The business had revenue of C$603.21 million during the quarter, compared to analysts' expectations of C$614.67 million. Research analysts predict that Converge Technology Solutions will post 0.55 EPS for the current fiscal year.
Converge Technology Solutions Company Profile
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions in the United States and Canada. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
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