Raymond James Issues Negative Forecast for TSE:DIV Earnings

Diversified Royalty Corp. (TSE:DIV) – Investment analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of Diversified Royalty in a research report issued on Thursday, November 7th. Raymond James analyst M. Glen now anticipates that the company will post earnings of $0.18 per share for the year, down from their prior forecast of $0.19. The consensus estimate for Diversified Royalty’s current full-year earnings is $0.20 per share.

Several other equities analysts also recently commented on DIV. Ventum Cap Mkts raised shares of Diversified Royalty to a “strong-buy” rating in a research note on Tuesday, September 24th. Ventum Financial set a C$4.00 price target on Diversified Royalty and gave the company a “buy” rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.80.

Diversified Royalty Stock Performance

Shares of DIV opened at C$3.04 on Monday. The stock has a market capitalization of C$502.97 million, a P/E ratio of 14.48 and a beta of 1.57. Diversified Royalty has a twelve month low of C$2.52 and a twelve month high of C$3.09. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69. The firm has a fifty day simple moving average of C$2.96 and a two-hundred day simple moving average of C$2.83.

Diversified Royalty (TSE:DIV) last issued its 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. Diversified Royalty had a net margin of 51.17% and a return on equity of 12.02%. The firm had revenue of C$16.78 million for the quarter, compared to analysts’ expectations of C$17.50 million.

Diversified Royalty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.021 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Friday, November 15th. Diversified Royalty’s payout ratio is 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.