Analysts Offer Predictions for Converge Technology Solutions Corp.’s FY2023 Earnings (TSE:CTS)

Converge Technology Solutions Corp. (TSE:CTS) – Research analysts at Echelon Wealth Partners dropped their FY2023 earnings estimates for shares of Converge Technology Solutions in a research report issued on Wednesday, November 15th. Echelon Wealth Partners analyst R. Goff now anticipates that the company will earn $0.05 per share for the year, down from their previous estimate of $0.34. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.58 per share. Echelon Wealth Partners also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.55 EPS.

Several other equities research analysts have also commented on the stock. Cormark upped their price target on shares of Converge Technology Solutions from C$4.50 to C$5.50 in a research report on Wednesday, November 15th. Canaccord Genuity Group reduced their price target on shares of Converge Technology Solutions from C$6.00 to C$5.00 and set a “speculative buy” rating for the company in a research report on Wednesday, November 15th. Finally, TD Securities upped their price target on shares of Converge Technology Solutions from C$3.50 to C$4.25 and gave the company a “hold” rating in a research report on Wednesday, November 15th.

Converge Technology Solutions Price Performance

CTS opened at C$4.11 on Monday. Converge Technology Solutions has a 52-week low of C$2.24 and a 52-week high of C$6.23. The stock has a market capitalization of C$842.22 million, a P/E ratio of 82.20, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 78.03, a quick ratio of 0.68 and a current ratio of 1.12. The company’s 50-day simple moving average is C$2.95 and its two-hundred day simple moving average is C$3.07.

Converge Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, December 12th. Converge Technology Solutions’s dividend payout ratio is 80.00%.

About Converge Technology Solutions

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