Analysts Set Converge Technology Solutions Corp. (TSE:CTS) Price Target at C$11.42

Converge Technology Solutions Corp. (TSE:CTSGet Rating) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com 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 target price among brokerages that have issued ratings on the stock in the last year is C$11.42.

A number of research analysts have issued reports on the company. Echelon Wealth Partners reissued a “buy” rating and issued a C$14.50 price target on shares of Converge Technology Solutions in a report on Thursday, April 7th. National Bankshares dropped their price target on shares of Converge Technology Solutions from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Thursday, July 21st. TD Securities lowered their target price 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 note on Thursday, May 12th. Scotiabank lifted their price target on Converge Technology Solutions from C$11.00 to C$12.00 in a research note on Wednesday. Finally, National Bank Financial reiterated an “outperfrom under weight” rating on shares of Converge Technology Solutions in a research report on Tuesday, April 26th.

Converge Technology Solutions Price Performance

Shares of TSE:CTS opened at C$6.11 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 28.01. Converge Technology Solutions has a twelve month low of C$4.85 and a twelve month high of C$13.09. The company’s 50 day moving average is C$5.54 and its 200 day moving average is C$6.47. The company has a market cap of C$1.31 billion and a PE ratio of 122.20.

Converge Technology Solutions (TSE:CTSGet Rating) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of C$497.63 million. On average, sell-side analysts forecast that Converge Technology Solutions will post 0.64 EPS for the current 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.

See Also

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

Receive News & Ratings for Converge Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Converge Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.