Shares of Evertz Technologies Limited (TSE:ET – Get Free Report) reached a new 52-week low during mid-day 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 traded. The stock had previously closed at C$12.38.
Analysts Set New Price Targets
ET has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price target on Evertz Technologies from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 15th. Canaccord Genuity Group lowered Evertz Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$18.00 to C$15.00 in a report on Tuesday, September 15th. BMO Capital Markets reduced 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, September 15th. Finally, Raymond James Financial decreased their target price on Evertz Technologies from C$18.00 to C$16.50 and set an “outperform” rating on the stock in a research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$16.12.
Evertz Technologies Stock Down 4.0%
Evertz Technologies (TSE:ET – Get Free Report) last issued its quarterly earnings results on Monday, September 14th. The company reported C$0.10 earnings per share 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, equities research analysts expect that Evertz Technologies Limited will post 0.8010974 earnings per share for the current year.
Evertz Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Monday, July 13th were paid a $0.205 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.9%. Evertz Technologies’s payout ratio is currently 104.49%.
About Evertz Technologies
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.
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