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

Shares of Evertz Technologies Limited (TSE:ET) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.19 and traded as high as C$16.89. Evertz Technologies shares last traded at C$16.79, with a volume of 55,232 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Raymond James Financial increased their target price on shares of Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. Royal Bank Of Canada upped their price target on shares of Evertz Technologies from C$13.00 to C$15.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$16.00.

Evertz Technologies Trading Up 1.9%

The company has a current ratio of 1.65, a quick ratio of 0.68 and a debt-to-equity ratio of 7.66. The firm has a market cap of C$1.27 billion, a PE ratio of 20.73, a P/E/G ratio of 0.79 and a beta of 0.85. The company’s 50-day moving average is C$16.32 and its 200 day moving average is C$15.19.

Evertz Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 20th were given a $0.205 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.82 dividend on an annualized basis and a yield of 4.9%. Evertz Technologies’s dividend payout ratio is presently 99.38%.

Insider Transactions at Evertz Technologies

In other Evertz Technologies news, Director Rakesh Thakor Patel sold 22,200 shares of the 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 completion of the sale, the director owned 398,350 shares in the company, valued at C$6,652,445. This represents a 5.28% decrease in their position. 64.40% of the stock is currently owned by insiders.

About Evertz Technologies

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.