BMO Capital Markets Cuts Converge Technology Solutions (TSE:CTS) Price Target to C$8.00

Converge Technology Solutions (TSE:CTS – Get Ratings ) Investment analysts at BMO Capital Markets cut their target price from C$9.00 to C$8.00 in a note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 69.85% from the company’s current price.

A number of other brokerages have also issued reports on CTS. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their target price for the stock from C$8.50 to C$6.50 in a research report on Thursday. Eight Capital lowered their target price on shares of Converge Technology Solutions from C$11.00 to C$10.00 in a research report on Thursday. Canaccord Genuity Group dropped their target price on shares of Converge Technology Solutions from C$12.00 to C$10.50 in a research report on Thursday. 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 report on Thursday. Finally, Raymond James decreased their target price on shares of Converge Technology Solutions from C$9.50 to C$8.50 in a research report on Friday, October 28th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$10.34.

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Converge Technology Solutions stock performance

Converge Technology Solutions stock traded up C$0.61 during trading hours on Friday, hitting C$4.71. 1,542,315 shares traded hands compared to the company’s average volume of 772,418. The firm has a market cap of C$990.59 million and a PE ratio of 58.75. 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 has a one year low of C$3.95 and a one year high of C$12.65. The firm has a 50-day moving average of C$6.05 and a 200-day moving average of C$6.18.

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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, beating the consensus estimate of C$0.07 by C$0.06. The company had revenue of C$596.66 million during the quarter, compared to the consensus estimate of C$570.63 million. On average, sell-side analysts expect that Converge Technology Solutions will post 0.6642398 earnings per share for the current year.

About Converge Technology Solutions

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Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government organizations in the United States and Canada. Its solution approach provides clients across industries with advanced analytics, application modernization, cloud, cyber security, digital infrastructure, and digital workplace offerings.

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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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