Evertz Technologies (TSE:ET) Reaches New 1-Year Low – Here’s Why

Evertz Technologies Limited (TSE:ET) shares reached a new 52-week low on Tuesday . The stock traded as low as C$10.26 and last traded at C$10.29, with a volume of 40984 shares traded. The stock had previously closed at C$10.44.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Raymond James lowered their price objective on Evertz Technologies from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Canaccord Genuity Group increased their price objective on shares of Evertz Technologies from C$15.25 to C$15.50 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, BMO Capital Markets reduced their target price on shares of Evertz Technologies from C$15.00 to C$13.50 in a research note on Thursday, March 6th.

Evertz Technologies Stock Down 1.4 %

The stock has a market cap of C$788.16 million, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.86. The stock’s 50-day moving average is C$11.79 and its 200-day moving average is C$12.05. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.80 annualized dividend and a yield of 7.77%. Evertz Technologies’s payout ratio is 103.22%.

Evertz Technologies Company Profile

Evertz Technologies Limited engages in the design, manufacture, and distribution of video and audio infrastructure solutions for the production, post-production, broadcast, and telecommunications markets in Canada, the United States, and internationally. The company offers contribution and distribution encoder, decoder, receiver, and processing products; and control panels, intelligent operations and controls, big data analytics, and network management systems, as well as orchestration, monitoring, and analytics solutions.