Converge Technology Solutions (TSE:CTS) Downgraded to “Tender” Rating by Ventum Financial

Ventum Financial lowered shares of Converge Technology Solutions (TSE:CTS) from a buy rating to a tender rating in a report issued on Monday morning,BayStreet.CA reports. Ventum Financial currently has C$5.50 target price on the stock, down from their previous target price of C$6.00.

CTS has been the subject of several other research reports. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$6.00 to C$4.50 in a research note on Friday, October 25th. Stifel Canada upgraded shares of Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Finally, Scotiabank boosted their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Converge Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of C$5.73.

Converge Technology Solutions Price Performance

TSE:CTS opened at C$5.40 on Monday. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a market cap of C$1.05 billion, a PE ratio of -6.75, a P/E/G ratio of 0.14 and a beta of 1.81. The stock has a 50 day moving average price of C$3.56 and a 200 day moving average price of C$3.89.

Converge Technology Solutions (TSE:CTS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 EPS for the quarter, beating the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities research analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were paid a $0.015 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.11%. Converge Technology Solutions’s dividend payout ratio (DPR) is -7.50%.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.