Wednesday, February 8

Converge Technology Solutions Corp. (TSE:CTS) Receives Average Rating of “Buy” from Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Rating) have received an average rating of “Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$12.95.

Several research firms recently weighed in on CTS. Desjardins restated a “buy” rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. Echelon Wealth Partners reaffirmed a “buy” rating and issued a C$14.50 target price on shares of Converge Technology Solutions in a research note on Thursday, April 7th. TD Securities cut their target price on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating for the company in a research note on Thursday, May 12th. Raymond James set a C$12.50 price objective on Converge Technology Solutions and gave the company an “outperform” rating in a research note on Thursday, May 12th. Finally, CIBC dropped their price objective on Converge Technology Solutions from C$12.50 to C$11.00 in a research note on Monday, January 31st.

Shares of TSE:CTS opened at C$7.19 on Friday. The company’s 50-day moving average is C$7.80 and its 200 day moving average is C$8.00. The company has a debt-to-equity ratio of 28.01, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market capitalization of C$1.55 billion and a P/E ratio of 149.79. Converge Technology Solutions has a fifty-two week low of C$5.88 and a fifty-two week high of C$13.09.

Converge Technology Solutions (TSE:CTS – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The business had revenue of C$550.04 million for the quarter, compared to analysts’ expectations of C$497.63 million. As a group, research analysts predict that Converge Technology Solutions will post 0.63 earnings per share for the current year.

About Converge Technology Solutions (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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