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

Evertz Technologies Limited (TSE:ET) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.00 and traded as high as C$16.46. Evertz Technologies shares last traded at C$16.31, with a volume of 2,926 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ET. Raymond James Financial upped their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a research report 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 stock a “sector perform” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$16.00.

Evertz Technologies Price Performance

The company has a debt-to-equity ratio of 7.66, a quick ratio of 0.68 and a current ratio of 1.65. The company has a 50-day moving average of C$16.28 and a 200-day moving average of C$15.00. The firm has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 0.79 and a beta of 0.71.

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

Evertz Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors 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 annualized dividend and a dividend yield of 5.0%. Evertz Technologies’s payout ratio is currently 99.38%.

Insider Activity

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

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.