Evertz Technologies (TSE:ET) Announces Earnings Results

Evertz Technologies (TSE:ET) released its quarterly earnings results on Wednesday. The company reported C$0.20 EPS for the quarter, FiscalAI reports. Evertz Technologies had a return on equity of 24.86% and a net margin of 12.08%.The business had revenue of C$131.57 million during the quarter.

Here are the key takeaways from Evertz Technologies’ conference call:

• Evertz reported record annual sales of CAD 515.8 million, with full-year revenue up 2.8% and fourth-quarter sales up 3% year over year.
• Software and services remained a major growth driver, rising 8% for the year to CAD 240.7 million and making up 47% of total annual revenue.
• Gross margin stayed strong at 59.3% for both the quarter and the year, which management said remains within its target range despite component cost pressures.
• International sales were a standout, increasing 16% for the year to CAD 148 million, driven mainly by project deliveries in Western Europe.
• Management highlighted growing momentum in government, defense, and aerospace, saying related sales were over CAD 50 million for the year and more than 10% of revenue, with new partnerships and U.S./Canada capacity investments supporting that push.

Evertz Technologies Stock Down 0.3%

ET stock opened at C$16.47 on Friday. Evertz Technologies has a fifty-two week low of C$11.92 and a fifty-two week high of C$18.12. The business’s 50 day moving average price is C$16.37 and its two-hundred day moving average price is C$15.48. The company has a debt-to-equity ratio of 7.66, a quick ratio of 0.68 and a current ratio of 1.65. The company has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ET. Royal Bank Of Canada boosted their target price on Evertz Technologies from C$13.00 to C$15.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 3rd. Canaccord Genuity Group raised their price target on Evertz Technologies from C$17.50 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James Financial lifted their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a report on Thursday, March 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Evertz Technologies presently has an average rating of “Moderate Buy” and an average target price of C$16.50.

Insider Activity at Evertz Technologies

In other news, Director Rakesh Thakor Patel sold 22,200 shares of the firm’s 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 completion of the transaction, the director owned 398,350 shares in the company, valued at C$6,652,445. This trade represents a 5.28% decrease in their position. 64.40% of the stock is currently owned by insiders.

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.