Freehold Royalties (TSE:FRU) Price Target Cut to C$19.00

Freehold Royalties (TSE:FRU) had its price objective lowered by Canaccord Genuity Group from C$19.50 to C$19.00 in a research note released on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on FRU. National Bankshares decreased their price objective on shares of Freehold Royalties from C$20.00 to C$17.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. CIBC decreased their price objective on shares of Freehold Royalties from C$16.75 to C$16.00 and set a neutral rating on the stock in a report on Tuesday, January 16th. ATB Capital decreased their price objective on shares of Freehold Royalties from C$19.50 to C$19.00 in a report on Tuesday, January 2nd. Raymond James decreased their price objective on shares of Freehold Royalties from C$20.00 to C$17.50 and set an outperform rating on the stock in a report on Friday, January 19th. Finally, BMO Capital Markets set a C$15.00 price objective on shares of Freehold Royalties and gave the stock a market perform rating in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$17.64.

Freehold Royalties Stock Performance

Freehold Royalties stock opened at C$14.25 on Wednesday. The firm has a 50 day simple moving average of C$14.19 and a 200-day simple moving average of C$14.14. Freehold Royalties has a 1-year low of C$12.66 and a 1-year high of C$15.27. The company has a debt-to-equity ratio of 13.49, a current ratio of 2.12 and a quick ratio of 1.50. The stock has a market cap of C$2.15 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of -0.92 and a beta of 2.01.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.23 earnings per share for the quarter. Freehold Royalties had a net margin of 41.93% and a return on equity of 14.00%. The business had revenue of C$80.06 million during the quarter. On average, analysts expect that Freehold Royalties will post 0.7581169 EPS for the current year.

Freehold Royalties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.08 dividend on an annualized basis and a yield of 7.58%. Freehold Royalties’s dividend payout ratio (DPR) is presently 122.73%.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.