Evertz Technologies (TSE:ET) Hits New 12-Month High – Here’s Why

Evertz Technologies Limited (TSE:ET)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$16.16 and last traded at C$16.00, with a volume of 1230 shares. The stock had previously closed at C$16.02.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ET shares. BMO Capital Markets lifted their price objective on shares of Evertz Technologies from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Royal Bank Of Canada increased their target price on shares of Evertz Technologies from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$14.00.

Evertz Technologies Price Performance

The company has a market cap of C$1.21 billion, a PE ratio of 19.10, a P/E/G ratio of 0.79 and a beta of 0.74. The company’s 50 day moving average is C$14.34 and its 200 day moving average is C$13.19. The company has a current ratio of 2.18, a quick ratio of 0.68 and a debt-to-equity ratio of 8.09.

Evertz Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were paid a $0.205 dividend. The ex-dividend date was Thursday, December 18th. This represents a $0.82 annualized dividend and a dividend yield of 5.1%. This is an increase from Evertz Technologies’s previous quarterly dividend of $0.20. Evertz Technologies’s dividend payout ratio (DPR) is presently 95.24%.

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.