Evertz Technologies (TSE:ET) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Evertz Technologies (TSE:ET – Free Report) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat reports. Canaccord Genuity Group currently has C$15.00 price target on the stock, down from their previous price target of C$18.00.

A number of other brokerages have also weighed in on ET. Raymond James Financial reduced their price objective 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. Royal Bank Of Canada dropped their target price 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. Finally, BMO Capital Markets cut their price target on Evertz Technologies from C$18.00 to C$17.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$16.12.

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Evertz Technologies Stock Performance

Shares of Evertz Technologies stock opened at C$12.66 on Tuesday. The business has a 50-day simple moving average of C$15.96 and a 200-day simple moving average of C$16.28. The company has a debt-to-equity ratio of 14.94, a quick ratio of 0.68 and a current ratio of 1.56. Evertz Technologies has a one year low of C$12.00 and a one year high of C$21.50. The company has a market cap of C$958.59 million, a PE ratio of 16.23, a P/E/G ratio of 0.79 and a beta of 0.70.

Evertz Technologies (TSE:ET – Get Free Report) last issued its 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 forecast that Evertz Technologies will post 0.8010974 EPS for the current fiscal year.

Evertz Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, July 13th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.82 annualized dividend and a yield of 6.5%. Evertz Technologies’s payout ratio is 104.49%.

About Evertz Technologies

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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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