Scotiabank Cuts Freehold Royalties (TSE:FRU) Price Target to C$17.00

Freehold Royalties (TSE:FRU) had its price target lowered by Scotiabank from C$18.00 to C$17.00 in a report issued on Friday, BayStreet.CA reports.

A number of other equities analysts have also recently commented on FRU. Canaccord Genuity Group reduced their target price on Freehold Royalties from C$19.50 to C$19.00 and set a buy rating for the company in a report on Wednesday, April 17th. Desjardins reduced their target price on Freehold Royalties from C$17.25 to C$17.00 and set a buy rating for the company in a report on Wednesday, May 8th. National Bankshares increased their price target on Freehold Royalties from C$17.00 to C$18.00 and gave the company an outperform rating in a report on Friday, April 19th. Finally, Acumen Capital set a C$18.00 price target on Freehold Royalties in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of C$17.45.

Freehold Royalties Price Performance

Shares of Freehold Royalties stock opened at C$14.12 on Friday. The business has a 50 day simple moving average of C$13.75 and a two-hundred day simple moving average of C$13.97. Freehold Royalties has a 12 month low of C$12.66 and a 12 month high of C$15.27. The stock has a market capitalization of C$2.13 billion, a P/E ratio of 15.69, a PEG ratio of -0.92 and a beta of 2.00. The company has a debt-to-equity ratio of 24.39, a current ratio of 1.36 and a quick ratio of 1.50.

Freehold Royalties (TSE:FRU) last announced its earnings results on Monday, May 6th. The company reported C$0.23 EPS for the quarter. Freehold Royalties had a return on equity of 14.40% and a net margin of 43.19%. The business had revenue of C$74.27 million during the quarter. As a group, analysts predict that Freehold Royalties will post 0.7581169 EPS for the current fiscal year.

Freehold Royalties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.08 annualized dividend and a yield of 7.65%. Freehold Royalties’s payout ratio is 120.00%.

Insider Buying and Selling

In other Freehold Royalties news, Senior Officer David Michael Spyker acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of C$13.80 per share, for a total transaction of C$276,000.00. In other news, Senior Officer Ian C. Hantke acquired 8,590 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of C$13.91 per share, with a total value of C$119,486.90. Also, Senior Officer David Michael Spyker acquired 20,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of C$13.80 per share, with a total value of C$276,000.00. 0.45% of the stock is currently owned by company insiders.

Freehold Royalties Company Profile

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.