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Converge Technology Solutions Corp. (CTS.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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7.38+0.38 (+5.43%)
At close: 04:00PM EDT

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  • m
    mike the cpa
    Converge trades at 0.5X sales and 8.3X Ev/Ebitda. Growth rate of revenue of 61%.
    Competitor CGI trades at 2.1X sales and 11X Ev/Ebitda. Growth rate of revenue of 8%.
    Converge is almost shockingly undervalued right now.
  • M
    Mike
    lets close this week strong!
  • M
    Martin
    Good end of the week for CTS!
  • O
    OAKS
    Let's all gather at Zanzibar in Toronto and celebrate!
  • M
    Martin
    The funny thing is that we are still undervalued by about i’d say 200%. Let’s hope it’s upwards momentum now till the end of the year
  • M
    Mike
    We finally catch a break when earnings matter the most. What a great beat
  • F
    Frederic
    Revenue 596 vs 582 estimate
    EPS adjusted 0.14 vs 0.09 estimate
  • M
    Martin
    wow amazing results…. This should be over $20 if it wasn’t for the macro economic state
  • F
    Frederic
    The NCIB will commence on August 11! Tomorrow 895401 shares will be bought back by CTS
  • M
    Mike
    20% green day, not too shabby
  • H
    HASAN
    I newer seen close to 2million volume for a while.This is huge something is cooking:)
  • C
    Carl
    Wow - opened at $6.95!
  • S
    Sunny
    An excerpt from TD's news for CTS. Hopefully, it will make it easier to interpret the ER:

    Converge Technology Solutions (CTS.TO) on Tuesday said its second-quarter profit rose tenfold on higher revenue from customer demand and acqusitions.

    The information technology and advisory company said it earned C$11.68 million, or C$0.05 per share, in the period, up from C$1.03 million, or C$0.01,in the year-prior quarter. Adjusted profit, which excludes most one-time items, rose 111% to C$29.9 million, or C$0.14 per share, beating the average analyst estimate for the measure of C$0.10 per share, according to Capital IQ.

    Net revenue rose to C$596.66 million from C$345.31 million.

    "Despite the macroeconomic challenges faced in the consumer market, business demand for digital transformation and hybrid IT solutions remains robust while the deep technical skills that Converge possesses surrounding analytics, cybersecurity, cloud and managed services remain scarce, especially in the mid-market. I'm proud of the fact that the company has executed on our stated acquisition plans, closing 8 acquisitions to date," chief executive Shaun Maine said in a release.

    GLTA!!!
  • G
    Gabriel
    Huge beat 👏
  • M
    Mike
    Holding steady before earnings. Market is waiting for the earnings
  • L
    Liam
    Also still have about 550m+ in back orders. Cash-flow positive again. Looks like we’re past the equity raise days. Road to 500m in EBDITA and 5B revs now with self sustaining acquisitions. Beautiful.
  • M
    Mike
    gonna be some sellers in short term but trend will be up
  • M
    Martin
    I wouldn’t be surprised if we finish above $8 tomorrow
  • O
    OAKS
    Going to be a big run away leading up to Q3... 🤝
  • M
    Mike
    1000% increase in net income and over 700M revenue