Evertz Technologies (TSE:ET) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Evertz Technologies shares crossed above their 200-day moving average, reaching C$16.60 before closing at C$16.00; the 200-day average is C$16.34.
• Analyst sentiment is moderately positive: Canaccord Genuity raised its price target to C$18.00 with a Buy rating, while the broader consensus target is C$16.50.
• The company reported quarterly EPS of C$0.20 on C$131.57 million in revenue and maintains an annualized dividend of C$0.82 per share, yielding about 5.1%.

Evertz Technologies Limited (TSE:ET - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.34 and traded as high as C$16.60. Evertz Technologies shares last traded at C$16.00, with a volume of 63,089 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price target on shares of Evertz Technologies from C$17.50 to C$18.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Two investment analysts have 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 company has an average rating of "Moderate Buy" and a consensus target price of C$16.50.

Evertz Technologies Price Performance

The company has a fifty day moving average of C$16.80 and a 200 day moving average of C$16.34. The firm has a market capitalization of C$1.21 billion, a P/E ratio of 19.28, a PEG ratio of 0.79 and a beta of 0.75. The company has a debt-to-equity ratio of 6.93, a current ratio of 1.63 and a quick ratio of 0.68.

Evertz Technologies (TSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$131.57 million during the quarter. Evertz Technologies had a net margin of 12.40% and a return on equity of 27.67%. Sell-side analysts predict that Evertz Technologies Limited will post 0.8010974 earnings per share for the current year.

Evertz Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Monday, July 13th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, July 6th. Evertz Technologies's dividend payout ratio (DPR) is currently 97.59%.

Evertz Technologies Company Profile

Evertz Technologies Limited TSX: ET designs, manufactures and markets video and audio infrastructure solutions for the production, post-production and transmission of video content. The Company's solutions are purchased by the television broadcast, telecommunications, professional audio-visual, content creator, advanced education, government, military, enterprise, and new media sectors to support increasingly complex multi-channel digital and high-definition, Ultra HD, and high dynamic range formats and next generation high bandwidth low latency IP network environments.

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