Evertz Technologies (TSE:ET) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Evertz shares recently passed above its 200‑day moving average, last trading at C$16.25 versus the 200‑day average of C$14.40 (50‑day C$16.15) on volume of 22,330 shares.
• Analysts have been raising targets (Raymond James to C$18, RBC to C$15); the stock carries a consensus rating of Moderate Buy with a C$16.00 consensus price target.
• The company pays a quarterly dividend of C$0.205 (annualized C$0.82) for a 5.0% yield but a high payout ratio of 99.38%, and insiders own 64.4% of shares despite a director recently selling 22,200 shares.

Evertz Technologies Limited (TSE:ET - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.40 and traded as high as C$16.43. Evertz Technologies shares last traded at C$16.25, with a volume of 22,330 shares changing hands.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Raymond James Financial increased their price target on Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. Royal Bank Of Canada increased their price target on Evertz Technologies from C$13.00 to C$15.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$16.00.

Evertz Technologies Price Performance

The business's fifty day simple moving average is C$16.15 and its 200-day simple moving average is C$14.40. The firm has a market cap of C$1.23 billion, a P/E ratio of 20.06, a PEG ratio of 0.79 and a beta of 0.68. The company has a current ratio of 1.65, a quick ratio of 0.68 and a debt-to-equity ratio of 7.66.

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

Evertz Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 20th were given a $0.205 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.82 annualized dividend and a yield of 5.0%. Evertz Technologies's payout ratio is 99.38%.

Insider Transactions at Evertz Technologies

In related news, Director Rakesh Thakor Patel sold 22,200 shares of the company's stock in a transaction on Thursday, April 16th. The shares were 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 directly owned 398,350 shares in the company, valued at approximately C$6,652,445. The trade was a 5.28% decrease in their ownership of the stock. Company insiders own 64.40% of the company's stock.

About Evertz Technologies

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.

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