Royal Bank Of Canada Cuts Evertz Technologies (TSE:ET) Price Target to C$16.00

Key Points

• Royal Bank of Canada lowered Evertz Technologies’ price target to C$16.00 from C$17.00 while maintaining a “sector perform” rating, implying 22.32% upside from the prior close.
• Evertz shares fell 11.9% to C$13.08 during Tuesday trading, with volume significantly above average. The stock remains near its one-year low of C$12.00 and below its 50- and 200-day moving averages.
• Analyst sentiment remains mixed but leans positive: the consensus rating is “Moderate Buy,” with an average price target of C$16.12. The company recently reported C$0.10 in quarterly EPS and C$118.26 million in revenue.

Evertz Technologies (TSE:ET - Get Free Report) had its price target dropped by equities researchers at Royal Bank Of Canada from C$17.00 to C$16.00 in a research report issued on Tuesday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 22.32% from the stock's previous close.

ET has been the topic of a number of other reports. BMO Capital Markets dropped their price target 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. Raymond James Financial dropped their target price on Evertz Technologies from C$18.00 to C$16.50 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Canaccord Genuity Group boosted their price target on Evertz Technologies from C$17.50 to C$18.00 and gave the company 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$16.12.

Evertz Technologies Stock Down 11.9%

Shares of ET traded down C$1.77 during trading hours on Tuesday, reaching C$13.08. The company's stock had a trading volume of 227,441 shares, compared to its average volume of 31,710. The company has a 50 day moving average of C$16.25 and a two-hundred day moving average of C$16.35. The company has a quick ratio of 0.68, a current ratio of 1.63 and a debt-to-equity ratio of 6.93. The firm has a market cap of C$987.92 million, a price-to-earnings ratio of 15.76, a P/E/G ratio of 0.79 and a beta of 0.70. Evertz Technologies has a 1-year low of C$12.00 and a 1-year high of C$21.50.

Evertz Technologies (TSE:ET - Get Free Report) last announced its quarterly earnings data on Monday, September 14th. The company reported C$0.10 EPS for the quarter. The firm 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%. As a group, research analysts predict that Evertz Technologies will post 0.8010974 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.