Evertz Technologies (TSE:ET) Shares Pass Above 200-Day Moving Average – Here’s Why

Evertz Technologies Limited (TSE:ET)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$15.95 and traded as high as C$16.75. Evertz Technologies shares last traded at C$16.64, with a volume of 22,554 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their target price on Evertz Technologies from C$17.50 to C$18.00 and gave the company a “buy” rating in a research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$16.50.

Evertz Technologies Price Performance

The company has a debt-to-equity ratio of 6.93, a quick ratio of 0.68 and a current ratio of 1.63. The stock has a market cap of C$1.22 billion, a PE ratio of 19.40, a PEG ratio of 0.79 and a beta of 0.75. The stock’s 50-day moving average is C$16.82 and its two-hundred day moving average is C$15.97.

Evertz Technologies (TSE:ET) last announced its earnings results on Wednesday, June 24th. The company reported C$0.20 earnings per share (EPS) for the quarter. Evertz Technologies had a return on equity of 27.67% and a net margin of 12.40%.The company had revenue of C$131.57 million for the quarter. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Monday, July 13th were paid a $0.205 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.1%. Evertz Technologies’s payout ratio is presently 97.59%.

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.