Raymond James Financial Lowers Evertz Technologies (TSE:ET) Price Target to C$16.50

Key Points

• Raymond James lowered Evertz Technologies’ price target to C$16.50 from C$18.00 while maintaining an “outperform” rating, implying 26.15% potential upside from the current price.
• Evertz shares fell 11.9% to C$13.08, with trading volume significantly above average. The stock remains below its 50-day and 200-day moving averages and has traded between C$12.00 and C$21.50 over the past year.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and average price target of C$16.12. The company recently reported quarterly EPS of C$0.10 on revenue of C$118.26 million.

Evertz Technologies (TSE:ET - Get Free Report) had its price objective decreased by Raymond James Financial from C$18.00 to C$16.50 in a note issued to investors on Tuesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective indicates a potential upside of 26.15% from the stock's current price.

A number of other research firms also recently issued reports on ET. BMO Capital Markets dropped their price objective on shares of Evertz Technologies from C$18.00 to C$17.00 and set an "outperform" rating on the stock in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Evertz Technologies from C$17.50 to C$18.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$16.12.

Evertz Technologies Stock Down 11.9%

Shares of ET stock traded down C$1.77 on Tuesday, hitting C$13.08. The stock had a trading volume of 227,441 shares, compared to its average volume of 31,710. Evertz Technologies has a one year low of C$12.00 and a one year high of C$21.50. The business has a 50 day moving average price of C$16.25 and a 200 day moving average price of C$16.35. The company has a market cap of C$987.92 million, a PE ratio of 15.76, a P/E/G ratio of 0.79 and a beta of 0.70. The company has a quick ratio of 0.68, a current ratio of 1.63 and a debt-to-equity ratio of 6.93.

Evertz Technologies (TSE:ET - Get Free Report) last issued its earnings results on Monday, September 14th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$118.26 million for the quarter. Evertz Technologies had a net margin of 12.40% and a return on equity of 27.67%. Research analysts anticipate that Evertz Technologies will post 0.8010974 earnings per share for the current fiscal year.

Evertz Technologies Company Profile

Evertz Technologies Limited TSX: ET designs, manufactures and markets video and audio infrastructure solutions for the production, post-production and transmission of video content. The Company's solutions are purchased by the television broadcast, telecommunications, professional audio-visual, content creator, advanced education, government, military, enterprise, and new media sectors to support increasingly complex multi-channel digital and high-definition, Ultra HD, and high dynamic range formats and next generation high bandwidth low latency IP network environments.

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