Evertz Technologies (TSE:ET) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Evertz Technologies Limited (TSE:ET) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$13.16 and traded as low as C$12.98. Evertz Technologies shares last traded at C$12.99, with a volume of 32,260 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ET shares. Canaccord Genuity Group lowered shares of Evertz Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from C$18.00 to C$15.00 in a report on Tuesday, September 15th. Raymond James Financial lowered their price target on shares of 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. Royal Bank Of Canada dropped their price target on shares of 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. Finally, BMO Capital Markets cut their price objective on shares of 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. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$16.12.

Evertz Technologies Price Performance

The company has a quick ratio of 0.68, a current ratio of 1.56 and a debt-to-equity ratio of 14.94. The stock’s 50-day simple moving average is C$13.16 and its two-hundred day simple moving average is C$15.46. The company has a market capitalization of C$983.58 million, a price-to-earnings ratio of 16.65, a PEG ratio of 0.79 and a beta of 1.10.

Evertz Technologies (TSE:ET) last announced its earnings results on Monday, September 14th. The company reported C$0.10 earnings per share (EPS) for the quarter. The business had revenue of C$118.26 million for the quarter. Evertz Technologies had a net margin of 11.47% and a return on equity of 27.94%. Equities research analysts predict that Evertz Technologies Limited will post 0.80 earnings per share for the current year.

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.