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 estimates for shares of Converge Technology Solutions in a research report 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 next year, down from their prior forecast of $0.21. The consensus estimate for Converge Technology Solutions’ current 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 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.

Several other brokerages have 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 Bankshares 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 Genuitas Group dropped their price target on shares of Converge Technology Solutions from C$12.00 to C$10.50 in a research note on Thursday. Finally, CIBC lowered their price target 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. According to data from MarketBeat, Converge Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $10.34.

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Technology Solutions Converge Trading Up 13.9%

Shares of Converge Technology Solutions stock opened at C$4.67 on Thursday. The company’s 50 day simple moving average is C$5.95 and its 200 day simple moving average is C$6.16. Prosapia 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 ratio of 58.11, a current ratio of 0.84 and a quick ratio of 0.68.

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Technology Solutions Converge Company Profile

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Converge Technology Solutions Corp. It provides software-enabled IT and cloud solutions for corporate and government organizations in the United States and Canada. Access delivers advanced analytics solutions, application modernization, cloud, cybersecurity, digital infrastructure, and digital office services to clients across a variety of industries.

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

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