Evertz Technologies (TSE:ET) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Evertz Technologies Limited (TSE:ET) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.82 and traded as high as C$17.77. Evertz Technologies shares last traded at C$17.55, with a volume of 24,896 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on Evertz Technologies from C$17.50 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$16.50.

Evertz Technologies Trading Down 0.6%

The company has a debt-to-equity ratio of 6.93, a current ratio of 1.63 and a quick ratio of 0.68. The company has a market cap of C$1.31 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.75. The business’s fifty day moving average price is C$16.75 and its 200 day moving average price is C$15.84.

Evertz Technologies (TSE:ET) last posted its quarterly earnings data on Wednesday, June 24th. The company reported C$0.20 earnings per share for the quarter. The business had revenue of C$131.57 million during the quarter. Evertz Technologies had a return on equity of 27.67% and a net margin of 12.40%. Research analysts anticipate that Evertz Technologies Limited will post 0.8010974 earnings per share for the current fiscal year.

Evertz Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Monday, July 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, July 6th. Evertz Technologies’s dividend payout ratio (DPR) is 97.59%.

Insider Activity at Evertz Technologies

In related news, Director Rakesh Thakor Patel sold 22,200 shares of Evertz Technologies 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 value of C$370,740.00. Following the transaction, the director directly owned 398,350 shares of the company’s stock, valued at C$6,652,445. The trade was a 5.28% decrease in their ownership of the stock. 64.40% of the stock is currently owned by corporate insiders.

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.