Brokerages expect that ConvergeOne Holdings Inc (NASDAQ:CVON) will post earnings per share of $0.20 for the current quarter, according to Zacks. Three analysts have made estimates for ConvergeOne’s earnings, with estimates ranging from $0.18 to $0.23. ConvergeOne also posted earnings of $0.20 per share during the same quarter last year. The firm is scheduled to announce its next earnings results on Tuesday, March 19th.
On average, analysts expect that ConvergeOne will report full year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.91 to $0.96. For the next fiscal year, analysts expect that the company will post earnings of $1.08 per share, with EPS estimates ranging from $1.00 to $1.24. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow ConvergeOne.
ConvergeOne (NASDAQ:CVON) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. ConvergeOne had a net margin of 1.60% and a negative return on equity of 76.41%. The company had revenue of $404.75 million for the quarter, compared to analyst estimates of $392.71 million.
CVON has been the topic of several recent research reports. William Blair lowered shares of ConvergeOne from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 6th. Needham & Company LLC downgraded shares of ConvergeOne from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Zacks Investment Research upgraded shares of ConvergeOne from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. BTIG Research reiterated a “neutral” rating on shares of ConvergeOne in a research report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. downgraded shares of ConvergeOne from an “overweight” rating to a “neutral” rating in a research report on Tuesday, November 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.50.
NASDAQ:CVON opened at $12.47 on Friday. ConvergeOne has a one year low of $7.95 and a one year high of $12.75. The firm has a market capitalization of $951.92 million, a price-to-earnings ratio of 32.82 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Wednesday, November 21st will be given a $0.02 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.64%. ConvergeOne’s dividend payout ratio (DPR) is currently 21.05%.
Institutional investors have recently modified their holdings of the business. Rhumbline Advisers purchased a new stake in shares of ConvergeOne in the 2nd quarter worth approximately $198,000. Bank of New York Mellon Corp purchased a new stake in shares of ConvergeOne in the 2nd quarter worth approximately $651,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of ConvergeOne in the 2nd quarter worth approximately $1,224,000. BlackRock Inc. grew its stake in shares of ConvergeOne by 425.5% in the 2nd quarter. BlackRock Inc. now owns 1,222,314 shares of the company’s stock worth $11,476,000 after buying an additional 989,695 shares during the last quarter. Finally, Scopia Capital Management LP purchased a new stake in shares of ConvergeOne in the 2nd quarter worth approximately $19,009,000. Institutional investors and hedge funds own 22.70% of the company’s stock.
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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