Converge Technology Solutions (TSE:CTS – Get Rating) had its target price dropped by analysts at Scotiabank from C$14.00 to C$11.00 in a report issued on Monday, BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 91.30% from the company’s previous close.
Several other research firms have also issued reports on CTS. TD Securities cut their price target on shares of Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating for the company in a research report on Thursday, May 12th. Cormark cut their target price on Converge Technology Solutions from C$11.50 to C$10.00 and set a “na” rating on the stock in a research note on Monday, June 27th. Canaccord Genuity Group cut their target price on Converge Technology Solutions from C$14.50 to C$12.00 in a research note on Thursday, May 12th. National Bank Financial restated an “outperfrom under weight” rating on shares of Converge Technology Solutions in a report on Tuesday, April 26th. Finally, National Bankshares decreased their target price on shares of Converge Technology Solutions from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Converge Technology Solutions currently has an average rating of “Moderate Buy” and an average price target of C$11.60.
Converge Technology Solutions Stock Performance
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Shares of TSE CTS traded down C$0.05 during midday trading on Monday, reaching C$5.75. The company’s stock had a trading volume of 110,452 shares, compared to its average volume of 705,048. Converge Technology Solutions has a 12-month low of C$4.85 and a 12-month high of C$13.09. The company has a debt-to-equity ratio of 28.01, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a 50 day moving average price of C$5.43 and a 200-day moving average price of C$6.72. The stock has a market capitalization of C$1.24 billion and a P/E ratio of 115.40.
Converge Technology Solutions (TSE:CTS – Get Rating) last posted its quarterly earnings data 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 firm had revenue of C$550.04 million during the quarter, compared to analysts’ expectations of C$497.63 million. As a group, equities analysts predict that Converge Technology Solutions will post 0.641111 earnings per share for the current year.
Converge Technology Solutions Company Profile
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.
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