Evertz Technologies (TSE:ET) Reaches New 52-Week High - What's Next?

Key Points

• New 52-week high — ET traded as high as C$16.59 (last C$16.55) on Monday with ~27,059 shares changing hands, and analysts have raised targets (RBC C$15, Raymond James C$18) leaving a consensus Moderate Buy and C$16.00 target.
• Attractive yield but high payout — Evertz paid a quarterly $0.205 dividend (annualized $0.82) for a ~4.9% yield, though its dividend payout ratio is very high at ~99%, limiting room for increases.
• Mixed financials — market cap C$1.25B and P/E ~20.5 with quarterly EPS C$0.24 on C$139.3M revenue and ROE ~24.9%, but the company shows high leverage (debt-to-equity 7.66) and tight liquidity (quick ratio 0.68).

Evertz Technologies Limited (TSE:ET - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$16.59 and last traded at C$16.55, with a volume of 27059 shares traded. The stock had previously closed at C$16.23.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ET shares. Royal Bank Of Canada increased 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 note on Tuesday, March 3rd. Raymond James Financial increased their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Evertz Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.00.

Evertz Technologies Stock Performance

The stock's 50 day moving average price is C$15.78 and its 200 day moving average price is C$14.11. 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$1.25 billion, a PE ratio of 20.49, a P/E/G ratio of 0.79 and a beta of 0.68.

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

Evertz Technologies Announces Dividend

The firm also recently announced 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 4.9%. The ex-dividend date of this dividend was Friday, March 13th. Evertz Technologies's dividend payout ratio (DPR) is currently 99.38%.

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.

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.