FY2024 EPS Forecast for Diversified Royalty Cut by Analyst

Diversified Royalty Corp. (TSE:DIV) – Research analysts at Ventum Cap Mkts cut their FY2024 earnings estimates for shares of Diversified Royalty in a note issued to investors on Thursday, November 7th. Ventum Cap Mkts analyst D. Schilling now forecasts that the company will post earnings of $0.19 per share for the year, down from their prior estimate of $0.20. Ventum Cap Mkts has a “Strong-Buy” rating on the stock. The consensus estimate for Diversified Royalty’s current full-year earnings is $0.20 per share. Ventum Cap Mkts also issued estimates for Diversified Royalty’s FY2025 earnings at $0.19 EPS.

Diversified Royalty (TSE:DIV) last posted its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.05. The business had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%.

Separately, Ventum Financial set a C$4.00 target price on Diversified Royalty and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Diversified Royalty currently has an average rating of “Moderate Buy” and an average price target of C$3.80.

Diversified Royalty Stock Performance

TSE DIV opened at C$3.04 on Monday. Diversified Royalty has a 12 month low of C$2.52 and a 12 month high of C$3.09. The stock has a 50-day simple moving average of C$2.96 and a 200 day simple moving average of C$2.83. The company has a current ratio of 5.73, a quick ratio of 1.74 and a debt-to-equity ratio of 89.69. The company has a market capitalization of C$502.97 million, a PE ratio of 14.48 and a beta of 1.57.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.021 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date is Friday, November 15th. Diversified Royalty’s dividend payout ratio is currently 119.05%.

About Diversified Royalty

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.