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

Key Points

• Evertz Technologies' share price rose above its 200-day moving average, reaching C$12.26 during trading, with a last recorded price of C$12.09.
• The Royal Bank of Canada set a price target of C$12.00 on Evertz shares, maintaining a "hold" rating amid a consensus target price of C$13.75 and an average rating of "Moderate Buy."
• Evertz recently announced a quarterly dividend of $0.20 per share, yielding 6.6%, though its payout ratio is currently at 100.63%.

Evertz Technologies Limited (TSE:ET - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.68 and traded as high as C$12.26. Evertz Technologies shares last traded at C$12.09, with a volume of 8,346 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada set a C$12.00 price target on shares of Evertz Technologies and gave the stock a "hold" rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$13.75.

Evertz Technologies Stock Down 0.7%

The company has a market capitalization of C$911.69 million, a price-to-earnings ratio of 15.30, a PEG ratio of 0.79 and a beta of 0.61. The firm's 50 day simple moving average is C$12.13 and its 200-day simple moving average is C$11.68. The company has a current ratio of 2.18, a quick ratio of 0.68 and a debt-to-equity ratio of 8.09.

Evertz Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Thursday, September 18th. Evertz Technologies's payout ratio is presently 100.63%.

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.

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