Research Analysts Set Expectations for Converge Technology Solutions Corp.’s FY2022 Earnings (TSE:CTS)

Converge Technology Solutions Corp. (TSE:CTS) – Equities researchers at Desjardins boosted their FY2022 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a report released on Monday, January 10th. Desjardins analyst K. Krishnaratne now anticipates that the company will post earnings of $0.40 per share for the year, up from their previous forecast of $0.38.

Converge Technology Solutions (TSE:CTS) last released its earnings results on Wednesday, November 10th. The company reported C$0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.06 by C($0.04). The company had revenue of C$367.35 million for the quarter, compared to the consensus estimate of C$367.50 million.

Other research analysts also recently issued research reports about the stock. Echelon Wealth Partners reiterated a “speculative buy” rating on shares of Converge Technology Solutions in a research report on Thursday, November 11th. Laurentian Bank of Canada upped their price objective on shares of Converge Technology Solutions to C$12.50 and gave the stock a “buy” rating in a report on Friday, November 12th. Raymond James restated an “outperform” rating and set a C$12.50 price objective on shares of Converge Technology Solutions in a report on Tuesday. TD Securities assumed coverage on shares of Converge Technology Solutions in a report on Tuesday, December 14th. They set a “hold” rating and a C$13.00 price objective on the stock. Finally, Berenberg Bank restated a “buy” rating and set a C$18.25 price objective on shares of Converge Technology Solutions in a report on Monday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$13.00.

Converge Technology Solutions stock opened at C$9.44 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 3.09. Converge Technology Solutions has a 12-month low of C$4.58 and a 12-month high of C$13.09. The firm’s fifty day moving average is C$10.96 and its 200 day moving average is C$11.02. The company has a market capitalization of C$2.01 billion and a PE ratio of 165.61.

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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