Evertz Technologies (TSE:ET) Hits New 1-Year High – Should You Buy?

Evertz Technologies Limited (TSE:ET)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$20.92 and last traded at C$16.65, with a volume of 14875 shares traded. The stock had previously closed at C$16.35.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial raised their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a report on Thursday, March 5th. Canaccord Genuity Group boosted their price objective on Evertz Technologies from C$17.50 to C$18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$16.50.

Evertz Technologies Trading Down 1.6%

The business has a 50-day moving average price of C$16.46 and a two-hundred day moving average price of C$15.60. 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 firm has a market cap of C$1.42 billion, a PE ratio of 22.64, a PEG ratio of 0.79 and a beta of 0.85.

Evertz Technologies (TSE:ET) last released its quarterly earnings results on Wednesday, June 24th. The company reported C$0.20 earnings per share for the quarter. Evertz Technologies had a return on equity of 27.67% and a net margin of 12.40%.The firm had revenue of C$131.57 million during the quarter. Analysts forecast that Evertz Technologies Limited will post 0.8010974 EPS for the current year.

Evertz Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Monday, July 13th will be given a dividend of $0.205 per share. The ex-dividend date is Monday, July 6th. This represents a $0.82 annualized dividend and a dividend yield of 4.4%. Evertz Technologies’s payout ratio is currently 97.59%.

Insider Activity

In other news, Director Rakesh Thakor Patel sold 22,200 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of C$16.70, for a total value of C$370,740.00. Following the completion of the sale, the director directly owned 398,350 shares of the company’s stock, valued at approximately C$6,652,445. This represents a 5.28% decrease in their position. Insiders own 64.40% of the company’s stock.

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.