Research Analysts Offer Predictions for CynergisTek’s FY2019 Earnings (CTEK)

CynergisTek (NYSEAMERICAN:CTEK) – Investment analysts at B. Riley issued their FY2019 earnings per share (EPS) estimates for CynergisTek in a note issued to investors on Tuesday, March 27th, Zacks Investment Research reports. B. Riley analyst A. D’silva expects that the company will post earnings per share of $0.66 for the year. B. Riley currently has a “Buy” rating and a $8.25 target price on the stock.

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A number of other research firms have also issued reports on CTEK. TheStreet lowered CynergisTek from a “b-” rating to a “c-” rating in a research note on Wednesday, March 28th. Roth Capital initiated coverage on CynergisTek in a research note on Monday, January 29th. They set a “buy” rating and a $7.20 price objective on the stock. Finally, Zacks Investment Research upgraded CynergisTek from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Wednesday, March 28th.

NYSEAMERICAN:CTEK opened at $4.94 on Thursday. CynergisTek has a 52-week low of $2.70 and a 52-week high of $6.56.

CynergisTek (NYSEAMERICAN:CTEK) last released its quarterly earnings data on Monday, March 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $18.69 million for the quarter, compared to the consensus estimate of $17.85 million.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connors Investor Services Inc. bought a new position in CynergisTek in the 4th quarter worth about $148,000. King Luther Capital Management Corp bought a new position in CynergisTek in the 4th quarter worth about $278,000. Finally, Perritt Capital Management Inc. increased its stake in CynergisTek by 22.6% in the 4th quarter. Perritt Capital Management Inc. now owns 402,235 shares of the company’s stock worth $1,629,000 after acquiring an additional 74,042 shares during the last quarter.

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About CynergisTek

Cynergistek, Inc provides outsourced document management services and IT security consulting services primarily to the healthcare industry in the United States. It offers workflow solutions; and creates manageable, dependable print management programs by managing the back-office processes of hospital clients.

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