Evertz Technologies (TSE:ET) Reaches New 12-Month Low – Here’s What Happened

Evertz Technologies Limited (TSE:ET)’s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as C$11.99 and last traded at C$12.01, with a volume of 13044 shares changing hands. The stock had previously closed at C$12.38.

Analyst Ratings Changes

ET has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price objective on Evertz Technologies from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 15th. BMO Capital Markets dropped their target price on Evertz Technologies from C$18.00 to C$17.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. Canaccord Genuity Group downgraded Evertz Technologies from a “buy” rating to a “hold” rating and cut their target price for the stock from C$18.00 to C$15.00 in a research note on Tuesday, September 15th. Finally, Raymond James Financial reduced their price target on Evertz Technologies from C$18.00 to C$16.50 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$16.12.

Evertz Technologies Stock Performance

The firm’s 50 day moving average price is C$15.35 and its two-hundred day moving average price is C$16.12. The firm has a market cap of C$911.64 million, a PE ratio of 15.44, a PEG ratio of 0.79 and a beta of 0.70. The company has a debt-to-equity ratio of 14.94, a quick ratio of 0.68 and a current ratio of 1.56.

Evertz Technologies (TSE:ET) last released its quarterly earnings results on Monday, September 14th. The company reported C$0.10 EPS for the quarter. Evertz Technologies had a net margin of 11.47% and a return on equity of 27.94%. The firm had revenue of C$118.26 million for the quarter. On average, research analysts forecast that Evertz Technologies Limited will post 0.8010974 earnings per share for the current year.

Evertz Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, July 13th were paid a dividend of $0.2050 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.82 annualized dividend and a yield of 6.8%. Evertz Technologies’s dividend payout ratio (DPR) is 104.49%.

Evertz Technologies Company Profile

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.