December 9, 2022
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Cormark Analysts Cut Earnings Estimates for Converge Technology Solutions Corp. (TSE:CTS)

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Converge Technology Solutions Corp. (TSE:CTS – Get Rating) – Stock analysts at Cormark decreased their FY2022 EPS estimates for shares of Converge Technology Solutions in a research report issued to clients and investors on Thursday, May 12th. Cormark analyst G. Fairweather now expects that the company will post earnings of $0.35 per share for the year, down from their previous forecast of $0.52. Cormark also issued estimates for Converge Technology Solutions’ FY2023 earnings at $0.52 EPS.

Several other research analysts have also issued reports on the stock. Raymond James set a C$12.50 price target on shares of Converge Technology Solutions and gave the stock an “outperform” rating in a report on Thursday. TD Securities reduced their price objective 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. Canaccord Genuity Group reduced their price objective on shares of Converge Technology Solutions from C$14.50 to C$12.00 in a research report on Thursday. CIBC reduced their price objective on shares of Converge Technology Solutions from C$12.50 to C$11.00 in a research report on Monday, January 31st. Finally, National Bankshares set a C$14.00 price objective on shares of Converge Technology Solutions and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$13.06.

Shares of TSE CTS opened at C$6.15 on Monday. The company has a 50 day simple moving average of C$7.96 and a 200 day simple moving average of C$8.13. The firm has a market cap of C$1.32 billion and a PE ratio of 76.88. Converge Technology Solutions has a 1 year low of C$5.88 and a 1 year high of C$13.09. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.32 and a quick ratio of 1.12.

About Converge Technology Solutions (Get Rating)

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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Earnings History and Estimates for Converge Technology Solutions (TSE:CTS)



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