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

Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Rating) have been assigned an average recommendation of “Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$12.20.

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Converge Technology Solutions from C$14.50 to C$12.00 in a research note on Thursday, May 12th. Raymond James set a C$12.50 target price on shares of Converge Technology Solutions and gave the stock an “outperform” rating in a research report on Thursday, May 12th. CIBC decreased their price target on shares of Converge Technology Solutions from C$11.00 to C$7.00 in a research report on Tuesday. TD Securities decreased their price target on shares of Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating on the stock in a research report on Thursday, May 12th. Finally, Echelon Wealth Partners reaffirmed a “buy” rating and set a C$14.50 price objective on shares of Converge Technology Solutions in a report on Thursday, April 7th.

Shares of TSE CTS opened at C$6.06 on Thursday. Converge Technology Solutions has a 12-month low of C$5.88 and a 12-month high of C$13.09. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 28.01. The stock has a market cap of C$1.30 billion and a P/E ratio of 126.25. The business’s fifty day simple moving average is C$6.97 and its 200-day simple moving average is C$7.75.

Converge Technology Solutions (TSE:CTS – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The business had revenue of C$550.04 million during the quarter, compared to analysts’ expectations of C$497.63 million. On average, equities analysts forecast that Converge Technology Solutions will post 0.6800001 EPS for the current fiscal year.

Converge Technology Solutions Company Profile (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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