Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Converge Technology Solutions Corp. (TSE:CTS) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$5.77.

A number of brokerages recently weighed in on CTS. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$6.00 to C$4.50 in a research report on Friday, October 25th. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the company a “hold” rating in a research report on Thursday, January 16th. Ventum Financial lifted their target price on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Raymond James lowered their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th.

Converge Technology Solutions Trading Up 3.2 %

TSE CTS opened at C$3.60 on Tuesday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The stock has a 50-day simple moving average of C$3.42 and a 200 day simple moving average of C$3.94. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a market capitalization of C$702.72 million, a PE ratio of -4.50, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Announces Dividend

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