Converge Technology Solutions Corp. (TSE:CTS) Announces Dividend Increase – $0.02 Per Share

Converge Technology Solutions Corp. (TSE:CTSGet Free Report) announced a quarterly dividend on Wednesday, May 22nd, TickerTech reports. Shareholders of record on Thursday, June 6th will be given a dividend of 0.015 per share on Thursday, June 6th. This represents a $0.06 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Converge Technology Solutions’s previous quarterly dividend of $0.01.

Converge Technology Solutions Price Performance

Shares of TSE CTS opened at C$5.25 on Tuesday. The stock has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -525.00, a PEG ratio of 0.14 and a beta of 1.93. Converge Technology Solutions has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The business has a 50-day moving average of C$5.54 and a 200-day moving average of C$4.69. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68.

Converge Technology Solutions (TSE:CTSGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, meeting the consensus estimate of C$0.11. The company had revenue of C$628.77 million for the quarter, compared to analyst estimates of C$661.10 million. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.08%. As a group, sell-side analysts predict that Converge Technology Solutions will post 0.5503145 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 8,775 shares of Converge Technology Solutions stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of C$5.80 per share, with a total value of C$50,895.00. Over the last ninety days, insiders have acquired 11,590 shares of company stock valued at $66,944. 5.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Echelon Wealth Partners upped their price target on shares of Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a “sector perform” rating in a report on Thursday, March 7th. Eight Capital boosted their target price on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. TD Securities lifted their price target on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research report on Thursday, March 7th. National Bankshares boosted their price objective on Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Finally, Scotiabank increased their target price on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Converge Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of C$6.63.

Get Our Latest Analysis on CTS

Converge Technology Solutions Company Profile

(Get Free Report)

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.

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Dividend History for Converge Technology Solutions (TSE:CTS)

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