Royal Bank Of Canada Cuts Evertz Technologies (TSE:ET) Price Target to C$16.00

Evertz Technologies (TSE:ET) had its price target cut by equities research analysts at Royal Bank Of Canada from C$17.00 to C$16.00 in a report issued on Tuesday, BayStreet reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 22.32% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group raised their price target on Evertz Technologies from C$17.50 to C$18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Raymond James Financial cut their price objective 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. Finally, BMO Capital Markets decreased their target price on Evertz Technologies from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Evertz Technologies has a consensus rating of “Moderate Buy” and a consensus target price of C$16.12.

Evertz Technologies Stock Performance

Shares of TSE ET traded down C$1.77 during trading hours on Tuesday, hitting C$13.08. 227,441 shares of the stock were exchanged, compared to its average volume of 31,710. 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 company’s 50 day moving average is C$16.25 and its 200 day moving average is C$16.35. The firm has a market capitalization of C$987.92 million, a P/E ratio of 15.76, a P/E/G ratio of 0.79 and a beta of 0.70. Evertz Technologies has a one year low of C$12.00 and a one year high of C$21.50.

Evertz Technologies (TSE:ET) last announced its earnings results on Monday, September 14th. The company reported C$0.10 EPS for the quarter. The firm had revenue of C$118.26 million for the quarter. Evertz Technologies had a net margin of 12.40% and a return on equity of 27.67%. On average, research analysts expect that Evertz Technologies will post 0.8010974 EPS 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.