Wall Street analysts expect ConvergeOne Holdings Inc (NASDAQ:CVON) to report earnings of $0.24 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for ConvergeOne’s earnings, with estimates ranging from $0.22 to $0.26. The company is expected to announce its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that ConvergeOne will report full year earnings of $0.98 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $1.00. For the next fiscal year, analysts anticipate that the business will post earnings of $1.09 per share, with EPS estimates ranging from $1.01 to $1.24. Zacks’ EPS averages are an average based on a survey of research analysts that cover ConvergeOne.
ConvergeOne (NASDAQ:CVON) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The firm had revenue of $391.01 million for the quarter, compared to analyst estimates of $354.63 million.
Several brokerages have issued reports on CVON. Zacks Investment Research downgraded ConvergeOne from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. began coverage on ConvergeOne in a report on Friday, May 4th. They issued an “overweight” rating and a $11.00 price target for the company. ValuEngine upgraded ConvergeOne from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Cowen began coverage on ConvergeOne in a report on Tuesday, April 24th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. ConvergeOne has a consensus rating of “Buy” and a consensus target price of $11.50.
Shares of ConvergeOne stock traded down $0.06 during trading on Tuesday, hitting $9.34. 24,008 shares of the stock traded hands, compared to its average volume of 147,232. The firm has a market cap of $657.89 million, a price-to-earnings ratio of 24.58 and a beta of 0.70. The company has a debt-to-equity ratio of -5.41, a current ratio of 1.10 and a quick ratio of 1.04. ConvergeOne has a twelve month low of $7.95 and a twelve month high of $10.83.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $0.08 annualized dividend and a dividend yield of 0.86%. ConvergeOne’s dividend payout ratio is currently 21.05%.
In other news, Director David Boris sold 15,345 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $9.09, for a total transaction of $139,486.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 58,324 shares of company stock valued at $545,056 over the last ninety days.
Several hedge funds have recently bought and sold shares of CVON. Cowen Inc. acquired a new stake in shares of ConvergeOne in the 1st quarter valued at $153,000. Rhumbline Advisers acquired a new stake in shares of ConvergeOne in the 2nd quarter valued at $198,000. Yakira Capital Management Inc. acquired a new stake in shares of ConvergeOne in the 1st quarter valued at $216,000. Bank of New York Mellon Corp acquired a new stake in shares of ConvergeOne in the 2nd quarter valued at $651,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of ConvergeOne in the 1st quarter valued at $1,186,000. 12.77% of the stock is owned by institutional investors.
ConvergeOne Company Profile
ConvergeOne Holdings, Inc provides collaboration and technology solutions for large and medium enterprises in the United States. The company offers unified communications solutions, including communications applications, such as voice, email, presence, chat/text, and video technologies; voice and text messaging solutions; mobility and bring your own device solutions for business continuity with the seamless connection of mobile, landline, cellular, and Wi-Fi enabled devices; conferencing solutions, as well as streaming and recording, and security services; and software integration services.
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