Insider Selling: Evertz Technologies (TSE:ET) Director Sells 22,200 Shares of Stock

Key Points

• Director Rakesh Thakor Patel sold 22,200 shares at an average price of C$16.70 on April 16, raising C$370,740 and reducing his holding by 5.28% to 398,350 shares (≈C$6.65M).
• Stock and payout snapshot: ET traded at C$16.79 (near its 1‑year high of C$16.98) with a market cap of C$1.27B and P/E of 20.7, and pays a dividend with a 4.9% yield but a high payout ratio of 99.38%; analysts' consensus is "Moderate Buy" with a C$16.00 target.

Evertz Technologies Limited (TSE:ET - Get Free Report) Director Rakesh Thakor Patel sold 22,200 shares of the 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 sale, the director owned 398,350 shares in the company, valued at approximately C$6,652,445. This trade represents a 5.28% decrease in their position.

Evertz Technologies Price Performance

TSE:ET traded up C$0.13 during trading hours on Friday, reaching C$16.79. 39,559 shares of the company traded hands, compared to its average volume of 28,610. The firm's 50-day moving average is C$15.94 and its 200-day moving average is C$14.21. The stock has a market cap of C$1.27 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.79 and a beta of 0.68. 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 Limited has a 1-year low of C$10.34 and a 1-year high of C$16.98.

Evertz Technologies (TSE:ET - Get Free Report) last announced its 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 for the quarter. Evertz Technologies had a return on equity of 24.86% and a net margin of 12.08%. Equities research analysts expect that Evertz Technologies Limited will post 0.8010974 earnings per share for the current fiscal year.

Evertz Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 20th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, March 13th. Evertz Technologies's dividend payout ratio is 99.38%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. 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 research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Evertz Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of C$16.00.

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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