Evertz Technologies (TSE:ET) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Evertz Technologies Limited (TSE:ET) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.55 and traded as high as C$14.00. Evertz Technologies shares last traded at C$13.84, with a volume of 6,159 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ET. BMO Capital Markets increased their price target on Evertz Technologies from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Royal Bank Of Canada upped their target price on Evertz Technologies from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.00.

Evertz Technologies Price Performance

The company has a market capitalization of C$1.04 billion, a PE ratio of 16.48, a PEG ratio of 0.79 and a beta of 0.48. The company has a current ratio of 2.18, a quick ratio of 0.68 and a debt-to-equity ratio of 8.09. The company’s 50 day moving average price is C$13.26 and its 200-day moving average price is C$12.56.

Evertz Technologies (TSE:ET) last issued its earnings results on Wednesday, September 10th. The company reported C$0.15 earnings per share for the quarter. Evertz Technologies had a return on equity of 22.13% and a net margin of 11.71%.The business had revenue of C$112.15 million for the quarter. On average, sell-side analysts forecast that Evertz Technologies Limited will post 0.8010974 earnings per share for the current fiscal year.

Evertz Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 24th were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.82 annualized dividend and a dividend yield of 5.9%. This is an increase from Evertz Technologies’s previous quarterly dividend of $0.20. Evertz Technologies’s dividend payout ratio is presently 95.24%.

Evertz Technologies Company Profile

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.