Evertz Technologies (TSE:ET) Sets New 52-Week High – Here’s Why

Shares of Evertz Technologies Limited (TSE:ET) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$14.89 and last traded at C$14.68, with a volume of 11876 shares traded. The stock had previously closed at C$14.62.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Evertz Technologies from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Thursday, December 11th. BMO Capital Markets upped their price objective on Evertz Technologies from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$14.00.

Evertz Technologies Stock Up 0.5%

The stock has a 50-day moving average of C$13.86 and a 200 day moving average of C$12.85. The company has a market cap of C$1.11 billion, a P/E ratio of 17.49, a PEG ratio of 0.79 and a beta of 0.63. The company has a debt-to-equity ratio of 8.09, a current ratio of 2.18 and a quick ratio of 0.68.

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

Evertz Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 24th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.6%. This is a boost from Evertz Technologies’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, December 18th. Evertz Technologies’s dividend payout ratio (DPR) is currently 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.