Evertz Technologies (TSE:ET) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Evertz Technologies Limited (TSE:ET)’s share price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$13.16 and traded as low as C$12.98. Evertz Technologies shares last traded at C$12.99, with a volume of 32,260 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ET. 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. Royal Bank Of Canada dropped 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 report on Tuesday, September 15th. BMO Capital Markets dropped their price target on Evertz Technologies from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. Finally, Canaccord Genuity Group downgraded Evertz Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$18.00 to C$15.00 in a research note on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$16.12.

Evertz Technologies Stock Performance

The company has a market cap of C$983.58 million, a PE ratio of 16.65, a PEG ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 14.94, a quick ratio of 0.68 and a current ratio of 1.56. The firm’s 50 day moving average is C$13.16 and its 200-day moving average is C$15.46.

Evertz Technologies (TSE:ET) last released its quarterly earnings data on Monday, September 14th. The company reported C$0.10 EPS for the quarter. Evertz Technologies had a net margin of 11.47% and a return on equity of 27.94%. The company had revenue of C$118.26 million during the quarter. On average, research analysts anticipate that Evertz Technologies Limited will post 0.80 earnings per share for the current fiscal 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.