Converge Technology Solutions (CTS) Set to Announce Quarterly Earnings on Thursday

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

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.11. The company 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 Converge Technology Solutions stock traded up C$0.15 during trading on Tuesday, hitting C$4.15. The stock had a trading volume of 437,791 shares, compared to its average volume of 486,004. The business has a fifty day moving average of C$4.47 and a two-hundred day moving average of C$4.91. Converge Technology Solutions has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The firm has a market cap of C$829.46 million, a P/E ratio of -416.00, a PEG ratio of 0.14 and a beta of 1.93. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors 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 dividend yield of 1.45%. The ex-dividend date was Wednesday, May 22nd. Converge Technology Solutions’s payout ratio is presently -600.00%.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 8,197 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average price of C$4.68 per share, for a total transaction of C$38,361.96. In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$4.41, for a total transaction of C$134,946.00. Also, Senior Officer Greg Berard acquired 8,197 shares of Converge Technology Solutions stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average cost of C$4.68 per share, with a total value of C$38,361.96. Corporate insiders own 5.45% of the company’s stock.

Analyst Upgrades and Downgrades

CTS has been the topic of a number of analyst reports. Ventum Cap Mkts raised Converge Technology Solutions to a “strong-buy” rating in a research note on Tuesday, June 25th. National Bankshares lifted their target price on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a research report on Friday, May 10th. Finally, Cormark cut their price target on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.