Evertz Technologies (TSE:ET) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Evertz Technologies shares rose above the 200-day moving average, reaching as high as C$12.37 during trading, with the last traded price at C$12.23.
• Royal Bank of Canada set a C$12.00 target price on the stock, maintaining a "hold" rating, while the consensus rating remains a "Moderate Buy" with an average target of C$13.75.
• The company has declared a $0.20 quarterly dividend, which translates to an annual yield of 6.5%, highlighting its returns to shareholders despite a high dividend payout ratio of 100.63%.

Evertz Technologies Limited (TSE:ET - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.64 and traded as high as C$12.37. Evertz Technologies shares last traded at C$12.23, with a volume of 65,398 shares trading hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada set a C$12.00 target price on Evertz Technologies and gave the company 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 issued a Hold rating to the company's stock. According to MarketBeat, Evertz Technologies currently has a consensus rating of "Moderate Buy" and an average price target of C$13.75.

Evertz Technologies Price Performance

The firm has a fifty day moving average price of C$12.13 and a two-hundred day moving average price of C$11.64. The stock has a market capitalization of C$922.25 million, a P/E ratio of 15.48, a PEG ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 8.09, a quick ratio of 0.68 and a current ratio of 2.18.

Evertz Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, September 18th. Evertz Technologies's dividend payout ratio is presently 100.63%.

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.

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