Freehold Royalties (TSE:FRU) PT Lowered to C$5.00

Freehold Royalties (TSE:FRU) had its price target cut by analysts at Raymond James from C$7.50 to C$5.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 62.87% from the company’s current price.

FRU has been the topic of several other reports. National Bank Financial decreased their price objective on shares of Freehold Royalties from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 10th. TD Securities upgraded shares of Freehold Royalties from a “buy” rating to an “action list buy” rating and boosted their price objective for the stock from C$14.50 to C$15.50 in a research report on Wednesday, January 8th. Cormark decreased their price objective on shares of Freehold Royalties from C$10.50 to C$9.00 in a research report on Thursday, March 5th. Canaccord Genuity decreased their price objective on shares of Freehold Royalties from C$11.00 to C$9.50 in a research report on Wednesday, March 11th. Finally, Royal Bank of Canada reduced their target price on shares of Freehold Royalties from C$11.00 to C$6.00 in a report on Monday, March 16th.

Freehold Royalties stock opened at C$3.07 on Wednesday. Freehold Royalties has a 52 week low of C$2.52 and a 52 week high of C$9.88. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 15.68. The firm’s 50-day simple moving average is C$5.63 and its 200 day simple moving average is C$6.81. The firm has a market capitalization of $304.72 million and a PE ratio of 76.75.

Freehold Royalties (TSE:FRU) last released its quarterly earnings data on Wednesday, March 4th. The company reported C$0.05 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.02. The business had revenue of C$36.83 million during the quarter, compared to analysts’ expectations of C$34.10 million. On average, research analysts expect that Freehold Royalties will post 0.17 EPS for the current fiscal year.

Freehold Royalties Company Profile

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.

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