Brokers Set Expectations for Converge Technology Solutions Corp.’s FY2023 Earnings (TSE:CTS)

ByPhyllis R. Edwards

Jul 1, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,


Converge Engineering Solutions Corp. (TSE:CTSGet Score) – Stock analysts at Cormark lowered their FY2023 earnings for every share (EPS) estimates for shares of Converge Technological innovation Alternatives in a analysis be aware issued to buyers on Monday, June 27th. Cormark analyst G. Fairweather now expects that the enterprise will put up earnings per share of $.50 for the year, down from their prior estimate of $.56. Cormark has a “NA” score and a $10.00 rate aim on the inventory. The consensus estimate for Converge Technological innovation Solutions’ existing whole-12 months earnings is $.68 for every share.

Converge Technological know-how Remedies (TSE:CTSGet Ranking) very last posted its quarterly earnings effects on Tuesday, May well 10th. The firm noted C$.10 earnings for every share (EPS) for the quarter, topping the consensus estimate of C$.06 by C$.04. The company experienced earnings of C$550.04 million in the course of the quarter, in contrast to the consensus estimate of C$497.63 million.

Quite a few other investigation analysts have also issued studies on the company. Laurentian Lender of Canada restated a “buy” rating and issued a C$11.00 price focus on on shares of Converge Technology Methods in a investigation report on Tuesday, June 21st. CIBC lowered their value focus on on Converge Technologies Solutions from C$11.00 to C$7.00 in a investigate report on Tuesday, June 14th. Raymond James established a C$12.50 cost concentrate on on Converge Technological know-how Answers and gave the inventory an “outperform” ranking in a research report on Thursday, May well 12th. Nationwide Bankshares established a C$14.00 price goal on Converge Engineering Alternatives and gave the stock an “outperform” ranking in a analysis observe on Wednesday, April 27th. Eventually, Nationwide Lender Financial reaffirmed an “outperfrom under weight” rating on shares of Converge Technologies Solutions in a study notice on Tuesday, April 26th. Two analysts have rated the inventory with a hold score and 7 have specified a invest in rating to the company. According to knowledge from, the enterprise presently has a consensus ranking of “Moderate Buy” and a consensus concentrate on price tag of C$12.02.

TSE:CTS opened at C$5.13 on Wednesday. Converge Technological innovation Options has a 12-thirty day period small of C$5.01 and a 12-thirty day period substantial of C$13.09. The corporation has a swift ratio of .89, a existing ratio of 1.14 and a personal debt-to-equity ratio of 28.01. The agency has a market place capitalization of C$1.10 billion and a P/E ratio of 102.60. The stock’s fifty day very simple transferring typical is C$6.41 and its 200-day very simple shifting ordinary is C$7.35.

Converge Technologies Alternatives Company Profile (Get Ranking)

Converge Technological innovation Options Corp., by its subsidiaries, distributes storage devices and programs, personal computer items, program, and peripherals. The business also offers set up and servicing analytics, hybrid cloud, infrastructure, and cybersecurity services cloud shipping, compute efficiency, community optimization, and IT spend optimization alternatives and IT professional providers, these kinds of as info heart infrastructure integration and solutioning, and cloud optimization.

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

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