Converge Technology Solutions (CTS) Scheduled to Post Quarterly Earnings on Thursday

Converge Technology Solutions (TSE:CTS) is scheduled to release its earnings data before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of C$0.12 per share for the quarter.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.11 EPS for the quarter, meeting analysts’ consensus estimates of C$0.11. The business had revenue of C$628.77 million for the quarter, compared to analysts’ expectations of C$661.10 million. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%.

Converge Technology Solutions Price Performance

Shares of TSE CTS traded up C$0.16 during mid-day trading on Tuesday, reaching C$4.16. The company’s stock had a trading volume of 389,648 shares, compared to its average volume of 485,685. The stock has a fifty day moving average of C$4.47 and a two-hundred day moving average of C$4.91. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68. Converge Technology Solutions has a 52 week low of C$2.24 and a 52 week high of C$6.06. The firm has a market capitalization of C$831.46 million, a PE ratio of -401.00, a P/E/G ratio of 0.14 and a beta of 1.93.

Converge Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a $0.015 dividend. This is an increase from Converge Technology Solutions’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 22nd. Converge Technology Solutions’s payout ratio is currently -600.00%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00. In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 8,197 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of C$4.68 per share, for a total transaction of C$38,361.96. Also, Senior Officer Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total transaction of C$115,500.00. 5.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cormark reduced their target price on Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday, May 10th. Ventum Cap Mkts raised Converge Technology Solutions to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, National Bankshares increased their target price on Converge Technology Solutions from C$6.00 to C$7.00 in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$6.63.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.