Evertz Technologies (TSE:ET) Shares Up 1.3% – Here’s Why

Evertz Technologies Limited (TSE:ET) shares were up 1.3% during trading on Monday. The company traded as high as C$12.97 and last traded at C$12.91. 21,184 shares changed hands during trading, a decline of 45% from the average session volume of 38,456 shares. The stock had previously closed at C$12.75.

Analyst Ratings Changes

A number of research firms have weighed in on ET. Royal Bank Of Canada decreased 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 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 report on Tuesday, September 15th. Finally, Raymond James Financial cut their target price on Evertz Technologies from C$18.00 to C$16.50 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$16.12.

Evertz Technologies Trading Up 0.9%

The company’s fifty day moving average price is C$13.29 and its two-hundred day moving average price is C$15.48. The company has a current ratio of 1.56, a quick ratio of 0.68 and a debt-to-equity ratio of 14.94. The firm has a market cap of C$979.03 million, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10.

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