Shares of Converge Technology Solutions Corp. (TSE: CTS – Get Rating ) have received a consensus rating of “buy” from the 14 brokerages covering the stock, according to Marketbeat Ratings. Five research analysts have issued a Buy recommendation rating on the stock. Analysts who have rated the stock in the last year have a 12-month average price target of C$9.31.
Several brokerages have recently issued reports on CTS. Scotiabank lowered their price target on Converge Technology Solutions from C$11.00 to C$10.00 in a report on Friday, November 11th. CIBC lowered their price target on Converge Technology Solutions from C$7.00 to C$5.25 in a report on Monday, December 12th. Canaccord Genuity Group lowered their price target on Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday, November 10th. Eight Capital cut their price target on shares of Converge Technology Solutions from C$11.00 to C$10.00 in a report on Thursday, November 10th. Finally, National Bankshares cut 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 activities
In other Converge Technology Solutions news, senior executive Greg Berard acquired 9,308 shares of the company in a deal on Friday, December 30. The shares were purchased at an average price of C$4.60 per share for a total value of C$42,816.80. After the transaction is completed, the insider now directly holds 148,776 shares of the company’s stock, worth about 684,369.60 Canadian dollars. In the past 90 days, insiders purchased 22,462 shares of the company stock worth $94,120.
Converge Technology Solutions shares rose 3.5%
The TSE CTS opened Friday at C$5.58. The stock has a 50-day moving average of C$4.83 and a 200-day moving average of C$5.01. The company’s current ratio is 0.84, its quick ratio is 0.68, and its debt-to-equity ratio is 63.41. Converge Technology Solutions had a 12-month low of C$3.60 and a 12-month high of C$11.59. The stock has a market capitalization of C$1.17 billion and a price-to-earnings ratio of 34.88.
Converge Technology Solutions (TSE: CTS – Get Rating ) last reported quarterly earnings results on Tuesday, November 8th. The company reported earnings per share of C$0.10 for the quarter, beating analysts’ consensus estimate of C$0.07 by C$0.03. The business’ revenue for the quarter was C$603.21 million, beating analysts’ expectations of C$614.67 million. Research analysts forecast Converge Technology Solutions to post EPS of 0.55 for the fiscal year.
About Converge Technology Solutions, Inc.
(get rating)
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions to businesses and government agencies in the United States and Canada. Its solutions approach provides advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure and digital workplace products to clients in a wide variety of industries.
see also
This breaking news alert is powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate coverage. This story was reviewed by MarketBeat’s editorial team before publication. Please send any questions or comments about this story to contact@marketbeat.com.
You’ll want to hear this before you consider Converge Technology Solutions.
MarketBeat tracks Wall Street’s highest-rated and top-performing research analysts and the stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks that top analysts are quietly telling their clients to buy immediately before the broader market catches on… and Converge Technology Solutions isn’t on the list.
While Converge Technology Solutions currently has a Moderate Buy rating among analysts, the top-rated analysts see these five stocks as better buys.
Check out five stocks here
Elon Musk’s next move
Wondering when you can finally invest in SpaceX, StarLink or The Boring Company? Click the links below to find out when Elon Musk will make these companies final IPOs.
Get this free report
