Evertz Technologies (TSE:ET) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Evertz Technologies shares rose above their 200-day moving average, trading as high as C$17.77 and last changing hands at C$17.55, signaling improved near-term technical momentum.
• Canaccord Genuity raised its price target on the stock from C$17.50 to C$18.00 and reiterated a buy rating, while the broader analyst view remains a Moderate Buy.
• The company recently reported C$0.20 EPS on revenue of C$131.57 million and paid a C$0.205 quarterly dividend, which annualizes to a 4.7% yield but comes with a high payout ratio of 97.59%.

Evertz Technologies Limited (TSE:ET - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.82 and traded as high as C$17.77. Evertz Technologies shares last traded at C$17.55, with a volume of 24,896 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted 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 report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$16.50.

Evertz Technologies Stock Performance

The company's 50 day simple moving average is C$16.72 and its 200 day simple moving average is C$15.82. The company has a debt-to-equity ratio of 6.93, a quick ratio of 0.68 and a current ratio of 1.63. The stock has a market cap of C$1.33 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.79 and a beta of 0.75.

Evertz Technologies (TSE:ET - Get Free Report) last announced its earnings results on Wednesday, June 24th. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$131.57 million for the quarter. Evertz Technologies had a return on equity of 27.67% and a net margin of 12.40%. Analysts expect that Evertz Technologies Limited will post 0.8010974 earnings per share for the current year.

Evertz Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, July 13th were given a $0.205 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.82 annualized dividend and a yield of 4.7%. Evertz Technologies's payout ratio is currently 97.59%.

Insider Transactions at Evertz Technologies

In other Evertz Technologies news, Director Rakesh Thakor Patel sold 22,200 shares of the company's stock in a transaction 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 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 owned by company insiders.

About Evertz Technologies

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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