Canaccord Genuity Group Cuts Freehold Royalties (TSE:FRU) Price Target to C$19.00

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

Other equities analysts have also issued reports about the company. CIBC dropped their price target on Freehold Royalties from C$16.75 to C$16.00 and set a neutral rating for the company in a research note on Tuesday, January 16th. BMO Capital Markets set a C$15.00 price objective on Freehold Royalties and gave the company a market perform rating in a research note on Wednesday, March 13th. National Bankshares lowered their price objective on Freehold Royalties from C$20.00 to C$17.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Raymond James reduced their price target on 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, ATB Capital reduced their price target on Freehold Royalties from C$19.50 to C$19.00 in a report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$17.75.

Freehold Royalties Stock Performance

TSE FRU opened at C$14.30 on Wednesday. The firm has a market cap of C$2.15 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of -0.92 and a beta of 2.01. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 13.49. The business has a 50-day moving average price of C$14.22 and a 200-day moving average price of C$14.13. Freehold Royalties has a twelve month low of C$12.66 and a twelve month high of C$15.27.

Freehold Royalties (TSE:FRU) last released its quarterly earnings data on Wednesday, February 28th. The company reported C$0.23 earnings per share for the quarter. The firm had revenue of C$80.06 million during the quarter. Freehold Royalties had a return on equity of 14.00% and a net margin of 41.93%. As a group, equities research analysts predict that Freehold Royalties will post 0.7581169 EPS for the current fiscal year.

Freehold Royalties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, April 29th. This represents a $1.08 annualized dividend and a yield of 7.55%. 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.