Freehold Royalties (TSE:FRU) Sets New 12-Month High After Analyst Upgrade

Shares of Freehold Royalties Ltd. (TSE:FRU) reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$15.00 to C$16.00. Scotiabank currently has a sector perform rating on the stock. Freehold Royalties traded as high as C$15.88 and last traded at C$15.78, with a volume of 296159 shares trading hands. The stock had previously closed at C$15.76.

A number of other research analysts also recently weighed in on the stock. Raymond James Financial raised Freehold Royalties from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$14.50 to C$17.50 in a research report on Tuesday, December 9th. Natl Bk Canada downgraded shares of Freehold Royalties from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. CIBC increased their target price on shares of Freehold Royalties from C$14.50 to C$15.25 in a research report on Friday, November 14th. Canaccord Genuity Group boosted their price target on shares of Freehold Royalties from C$16.00 to C$17.00 in a research report on Friday, November 14th. Finally, National Bankshares cut shares of Freehold Royalties from an “outperform” rating to a “sector perform” rating and set a C$15.00 price target on the stock. in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$15.79.

Freehold Royalties Stock Performance

The firm has a market cap of C$2.63 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of -0.92 and a beta of 0.60. The business’s fifty day simple moving average is C$15.12 and its 200-day simple moving average is C$14.09. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91.

Freehold Royalties (TSE:FRU) last released its quarterly earnings results on Thursday, November 13th. The company reported C$0.21 earnings per share for the quarter. Freehold Royalties had a net margin of 42.42% and a return on equity of 14.43%. The business had revenue of C$74.36 million for the quarter. As a group, sell-side analysts expect that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current year.

Freehold Royalties Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were paid a $0.09 dividend. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Freehold Royalties’s dividend payout ratio is presently 135.00%.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.