Evertz Technologies (TSE:ET) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Evertz stock crossed above its 200‑day moving average, trading as high as C$16.08 versus the 200‑day average of C$14.53 on Monday (volume ~32,362 shares).
• Analysts have recently raised targets — Raymond James to C$18 and RBC to C$15 — leaving a MarketBeat consensus of Moderate Buy with an average target of C$16.00.
• The company pays a quarterly dividend of C$0.205 (annualized C$0.82, 5.1% yield) but has a payout ratio near 99%, while insiders own 64.4% and a director sold 22,200 shares in April.

Evertz Technologies Limited (TSE:ET - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.53 and traded as high as C$16.08. Evertz Technologies shares last traded at C$16.08, with a volume of 32,362 shares trading hands.

Wall Street Analyst Weigh In

ET has been the subject of a number of analyst 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 upped their price objective on 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$16.00.

Evertz Technologies Trading Down 0.6%

The stock has a market cap of C$1.21 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.68. The stock's 50-day moving average is C$16.19 and its two-hundred day moving average is C$14.53. The company has a debt-to-equity ratio of 7.66, a current ratio of 1.65 and a quick ratio of 0.68.

Evertz Technologies (TSE:ET - Get Free Report) last announced its quarterly 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. Equities research analysts anticipate that Evertz Technologies Limited will post 0.8010974 EPS for the current year.

Evertz Technologies Dividend Announcement

The company 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Friday, March 13th. Evertz Technologies's payout ratio is currently 99.38%.

Insider Buying and Selling

In related news, Director Rakesh Thakor Patel sold 22,200 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of C$16.70, for a total transaction of C$370,740.00. Following the completion of the transaction, the director directly owned 398,350 shares of the company's stock, valued at approximately C$6,652,445. This represents a 5.28% decrease in their ownership of the stock. 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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