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Converge Technology Solutions Corp CTSDF


Primary Symbol: T.CTS

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations.


TSX:CTS - Post by User

Post by retiredcfon Mar 09, 2024 4:29pm
217 Views
Post# 35924697

Another View

Another ViewEPS was 19c vs 16c last year, and ahead of estimates of 13c. Revenue of $651M rose 1.6% and was short of estimates of $709M. EBITDA of $46.5M rose 8% and beat estimates of $46.1M. For 2024, CTS expects gross profit of $735M+ and EBITDA of $185M+ (estimates $191M). We would like to see faster revenue growth, but after a difficult couple of years this was a solid result by the company. But it did have an update on Jan 30 regarding cash flow so there might not be a lot of movement here. Debt is down a bit and good earnings growth, if achieved, should get investors' attention with the stock trading at only at 10X earnings. (5iResearch)
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