Converge Technology Solutions Corp. (TSE:CTS – Get Rating) – Echelon Wealth Partners increased their FY2024 earnings per share estimates for Converge Technology Solutions in a report released on Thursday, June 16th. Echelon Wealth Partners analyst R. Goff now forecasts that the company will post earnings of $0.69 per share for the year, up from their prior forecast of $0.52. Echelon Wealth Partners currently has a “Buy” rating and a $14.50 target price on the stock. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.68 per share. Echelon Wealth Partners also issued estimates for Converge Technology Solutions’ FY2025 earnings at $0.84 EPS and FY2026 earnings at $1.01 EPS.

A number of other research firms also recently weighed in on CTS. Desjardins restated a “buy” rating on shares of Converge Technology Solutions in a research note on Wednesday, March 23rd. National Bankshares set a C$14.00 price objective on Converge Technology Solutions and gave the company an “outperform” rating in a report on Wednesday, April 27th. TD Securities decreased their price target on Converge Technology Solutions from C$12.00 to C$8.50 and set a “hold” rating on the stock in a research note on Thursday, May 12th. Berenberg Bank decreased their price target on Converge Technology Solutions from C$18.25 to C$14.00 in a research note on Tuesday, May 31st. Finally, National Bank Financial reiterated an “outperfrom under weight” rating on shares of Converge Technology Solutions in a research note on Tuesday, April 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Buy” and a consensus target price of C$12.38.

TSE:CTS opened at C$5.79 on Monday. The firm has a market capitalization of C$1.24 billion and a price-to-earnings ratio of 120.63. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 28.01. The business’s 50-day moving average price is C$6.93 and its two-hundred day moving average price is C$7.69. Converge Technology Solutions has a 1-year low of C$5.64 and a 1-year high of C$13.09. Converge Technology Solutions (TSE:CTS – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported C$0.10 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.04. The business had revenue of C$550.04 million for the quarter, compared to the consensus estimate of C$497.63 million.

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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