Evertz Technologies (TSE:ET) Lowered to “Hold” Rating by Canaccord Genuity Group

Evertz Technologies (TSE:ET) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BayStreet reports. They presently have a C$15.00 price objective on the stock, down from their prior price objective of C$18.00. Canaccord Genuity Group’s target price indicates a potential upside of 14.68% from the stock’s current price.

A number of other research analysts also recently issued reports on ET. Raymond James Financial reduced their price objective on Evertz Technologies from C$18.00 to C$16.50 and set an “outperform” rating for the company in a research note on Tuesday. BMO Capital Markets lowered their target price on Evertz Technologies from C$18.00 to C$17.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada cut their price target on shares of Evertz Technologies from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evertz Technologies currently has an average rating of “Moderate Buy” and an average target price of C$16.12.

Evertz Technologies Stock Performance

Shares of Evertz Technologies stock traded down C$1.77 during mid-day trading on Tuesday, hitting C$13.08. 227,441 shares of the stock were exchanged, compared to its average volume of 31,710. Evertz Technologies has a 12 month low of C$12.00 and a 12 month high of C$21.50. The company has a 50-day simple moving average of C$16.25 and a 200 day simple moving average of C$16.35. The company has a market capitalization of C$987.92 million, a P/E ratio of 15.76, a P/E/G ratio of 0.79 and a beta of 0.70. The company has a debt-to-equity ratio of 6.93, a quick ratio of 0.68 and a current ratio of 1.63.

Evertz Technologies (TSE:ET) last released its earnings results on Monday, September 14th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$118.26 million during the quarter. Evertz Technologies had a return on equity of 27.67% and a net margin of 12.40%. Sell-side analysts anticipate that Evertz Technologies will post 0.8010974 earnings per share for the current fiscal year.

About Evertz Technologies

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.