Evertz Technologies (TSE:ET) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Evertz Technologies Limited (TSE:ET) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.69 and traded as high as C$16.55. Evertz Technologies shares last traded at C$16.55, with a volume of 11,155 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their target price on shares of Evertz Technologies from C$13.00 to C$15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 3rd. Raymond James Financial lifted their target price on shares of Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Evertz Technologies presently has an average rating of “Moderate Buy” and a consensus target price of C$16.00.

Evertz Technologies Stock Up 0.7%

The company has a debt-to-equity ratio of 7.66, a current ratio of 1.65 and a quick ratio of 0.68. The business’s 50 day simple moving average is C$16.21 and its 200 day simple moving average is C$14.69. The company has a market capitalization of C$1.25 billion, a PE ratio of 20.43, a P/E/G ratio of 0.79 and a beta of 0.71.

Evertz Technologies (TSE:ET) last issued its earnings results on Wednesday, March 4th. The company reported C$0.24 EPS for the quarter. The company had revenue of C$139.33 million for the quarter. Evertz Technologies had a net margin of 12.08% and a return on equity of 24.86%. As a group, analysts anticipate that Evertz Technologies Limited will post 0.8010974 earnings per share for the current fiscal year.

Evertz Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 20th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, March 13th. Evertz Technologies’s payout ratio is 99.38%.

Insider Activity

In other news, Director Rakesh Thakor Patel sold 22,200 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of C$16.70, for a total value of C$370,740.00. Following the sale, the director directly owned 398,350 shares of the company’s stock, valued at approximately C$6,652,445. The trade was a 5.28% decrease in their position. Company insiders own 64.40% of the company’s stock.

Evertz Technologies Company Profile

Evertz Technologies Ltd is a Canadian provider of telecommunications equipment and technology solutions to the television broadcast and new-media industries. Evertz equipment is used in the production, post-production and transmission of television content. Its solutions are sold to content creators, broadcasters, and service providers looking to support multi-channel digital and high definition television, and next generation Internet Protocol environments. More than half of the firm’s revenue is generated in the United States.