Wall Street analysts predict that ConvergeOne Holdings Inc (NASDAQ:CVON) will announce $394.42 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for ConvergeOne’s earnings. The highest sales estimate is $408.82 million and the lowest is $374.20 million. The business is scheduled to issue its next quarterly earnings report on Thursday, November 8th.

According to Zacks, analysts expect that ConvergeOne will report full year sales of $1.52 billion for the current financial year, with estimates ranging from $1.50 billion to $1.53 billion. For the next year, analysts expect that the business will report sales of $1.59 billion, with estimates ranging from $1.58 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover ConvergeOne.

ConvergeOne (NASDAQ:CVON) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $391.01 million during the quarter, compared to analyst estimates of $354.63 million.

Separately, Zacks Investment Research cut shares of ConvergeOne from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.50.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen Inc. acquired a new position in ConvergeOne in the 1st quarter valued at approximately $153,000. Rhumbline Advisers acquired a new position in ConvergeOne in the 2nd quarter valued at approximately $198,000. Northern Trust Corp bought a new stake in shares of ConvergeOne in the 2nd quarter valued at $631,000. Bank of New York Mellon Corp bought a new stake in shares of ConvergeOne in the 2nd quarter valued at $651,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of ConvergeOne in the 2nd quarter valued at $1,224,000. Hedge funds and other institutional investors own 18.97% of the company’s stock.

NASDAQ CVON traded up $0.03 on Friday, hitting $8.67. The company’s stock had a trading volume of 45,158 shares, compared to its average volume of 135,819. The company has a debt-to-equity ratio of -5.41, a quick ratio of 1.04 and a current ratio of 1.10. ConvergeOne has a 1-year low of $7.95 and a 1-year high of $10.83. The stock has a market cap of $711.27 million, a P/E ratio of 22.82 and a beta of 0.55.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 23rd. ConvergeOne’s dividend payout ratio (DPR) is currently 21.05%.

ConvergeOne Company Profile

ConvergeOne Holdings, Inc provides collaboration and technology solutions for large and medium enterprises in the United States. The company offers unified communications solutions, including communications applications, such as voice, email, presence, chat/text, and video technologies; voice and text messaging solutions; mobility and bring your own device solutions for business continuity with the seamless connection of mobile, landline, cellular, and Wi-Fi enabled devices; conferencing solutions, as well as streaming and recording, and security services; and software integration services.

Featured Article: Dow Jones Industrial Average (DJIA)

Get a free copy of the Zacks research report on ConvergeOne (CVON)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ConvergeOne (NASDAQ:CVON)

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