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

Converge Technology Solutions Corp. (TSE:CTS) – Desjardins upped their FY2022 earnings per share estimates for shares of Converge Technology Solutions in a research note issued to investors on Monday, January 10th. Desjardins analyst K. Krishnaratne now expects that the company will earn $0.40 per share for the year, up from their prior estimate 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 during the quarter, compared to analysts’ expectations of C$367.50 million.

A number of other research analysts have also issued reports on CTS. Cormark lifted their target price on Converge Technology Solutions to C$12.75 and gave the company a “buy” rating in a report on Friday, November 12th. TD Securities began coverage on Converge Technology Solutions in a report on Tuesday, December 14th. They issued a “hold” rating and a C$13.00 target price for the company. Berenberg Bank restated a “buy” rating and issued a C$18.25 price target on shares of Converge Technology Solutions in a research note on Monday, November 15th. Echelon Wealth Partners restated a “speculative buy” rating on shares of Converge Technology Solutions in a research note on Thursday, November 11th. Finally, Raymond James restated an “outperform” rating and issued a C$12.50 price target on shares of Converge Technology Solutions in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Converge Technology Solutions presently has an average rating of “Buy” and a consensus price target of C$13.00.

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

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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