FY2022 EPS Estimates for Converge Technology Solutions Corp. (TSE:CTS) Lowered by Analyst

Converge Technology Solutions Corp. (TSE:CTS – Get Rating ) – Raymond James cut their FY2022 earnings estimates for shares of Converge Technology Solutions in a research report issued to clients and investors on Wednesday, November 9th. Raymond James analyst S. Li now forecasts that the company will post earnings per share of $0.20 for the year, down from their previous forecast of $0.21. The consensus estimate for Converge Technology Solutions’ current full-year earnings per share is $0.66. Raymond James also issued estimates for Converge Technology Solutions’ Q4 2022 earnings at $0.07 EPS, FY2023 earnings at $0.41 EPS and FY2024 earnings at $0.48 EPS.

Converge Technology Solutions (TSE: CTS – Get Rating ) last issued its quarterly earnings results on Tuesday, August 9th. The company reported C$0.13 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.06. The business had revenue of C$596.66 million for the quarter, compared to analysts’ expectations of C$570.63 million.

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Several other brokerages also recently weighed in on CTS. BMO Capital Markets dropped their price target on shares of Converge Technology Solutions from C$9.00 to C$8.00 in a research note on Friday. National Bancshares dropped their price target on shares of Converge Technology Solutions from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 1st. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and lowered their target price for the company from C$8.50 to C$6.50 in a research note on Thursday. Canaccord Genuity Group lowered their target price on shares of Converge Technology Solutions from C$12.00 to C$10.50 in a research note on Thursday. Finally, CIBC lowered their target price on shares of Converge Technology Solutions from C$8.00 to C$7.00 and set a “neutral” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Converge Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of C$10.34, according to data from MarketBeat.

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Converge Technology Solutions trading up 13.9%

Shares of Converge Technology Solutions stock opened at C$4.67 on Thursday. The company’s fifty-day simple moving average is C$5.95 and its 200-day simple moving average is C$6.16. The stock has a market capitalization of C$982.18 million and a PE ratio of 58.38. Converge Technology Solutions has a 1 year low of C$3.95 and a 1 year high of C$12.65. The company has a debt-to-equity ratio of 58.11, a current ratio of 0.84 and a quick ratio of 0.68.

Converge Technology Solutions Company Profile

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Converge Technology Solutions Corp. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure and digital workplace offerings to clients across various industries.

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

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