Evertz Technologies (TSE:ET) Releases Quarterly Earnings Results

Evertz Technologies (TSE:ET) released its quarterly earnings results on Wednesday. The company reported C$0.20 earnings per share (EPS) for the quarter, FiscalAI reports. Evertz Technologies had a return on equity of 24.86% and a net margin of 12.08%.The firm had revenue of C$131.57 million for the quarter.

Here are the key takeaways from Evertz Technologies’ conference call:

• Evertz reported record annual sales of CAD 515.8 million, with full-year revenue up 2.8% and fourth-quarter sales up 3% year over year.
• Software and services remained a major growth driver, rising 8% for the year to CAD 240.7 million and making up 47% of total annual revenue.
• Gross margin stayed strong at 59.3% for both the quarter and the year, which management said remains within its target range despite component cost pressures.
• International sales were a standout, increasing 16% for the year to CAD 148 million, driven mainly by project deliveries in Western Europe.
• Management highlighted growing momentum in government, defense, and aerospace, saying related sales were over CAD 50 million for the year and more than 10% of revenue, with new partnerships and U.S./Canada capacity investments supporting that push.

Evertz Technologies Trading Up 1.7%

Shares of TSE:ET opened at C$16.52 on Thursday. The stock has a 50 day moving average of C$16.37 and a 200 day moving average of C$15.46. The company has a market cap of C$1.25 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85. The company has a current ratio of 1.65, a quick ratio of 0.68 and a debt-to-equity ratio of 7.66. Evertz Technologies has a 12-month low of C$11.92 and a 12-month high of C$18.12.

Insider Buying and Selling

In other Evertz Technologies news, Director Rakesh Thakor Patel sold 22,200 shares of Evertz Technologies stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of C$16.70, for a total transaction of C$370,740.00. Following the transaction, the director owned 398,350 shares of the company’s stock, valued at C$6,652,445. The trade was a 5.28% decrease in their ownership of the stock. Insiders own 64.40% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on Evertz Technologies from C$13.00 to C$15.00 and gave the company a “sector perform” rating in a report on Tuesday, March 3rd. Raymond James Financial upped their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Evertz Technologies has a consensus rating of “Moderate Buy” and an average price target of C$16.00.

Evertz Technologies Company Profile

Evertz Technologies Ltd is a Canadian provider of telecommunications equipment and technology solutions to the television broadcast and new-media industries. Evertz equipment is used in the production, post-production and transmission of television content. Its solutions are sold to content creators, broadcasters, and service providers looking to support multi-channel digital and high definition television, and next generation Internet Protocol environments. More than half of the firm’s revenue is generated in the United States.