Freehold Royalties (TSE:FRU) Sets New 52-Week High Following Analyst Upgrade

Freehold Royalties Ltd. (TSE:FRU)’s stock price reached a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from C$16.00 to C$17.00. The company traded as high as C$14.80 and last traded at C$14.76, with a volume of 143918 shares changing hands. The stock had previously closed at C$14.69.

A number of other brokerages have also commented on FRU. CIBC boosted their price target on Freehold Royalties from C$14.50 to C$15.25 in a report on Friday. National Bankshares boosted their target price on Freehold Royalties from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Freehold Royalties has an average rating of “Moderate Buy” and a consensus price target of C$15.05.

Freehold Royalties Stock Up 0.7%

The company has a debt-to-equity ratio of 22.91, a current ratio of 1.65 and a quick ratio of 1.50. The firm has a 50-day moving average of C$13.86 and a 200 day moving average of C$13.19. The stock has a market capitalization of C$2.42 billion, a price-to-earnings ratio of 18.49, a PEG ratio of -0.92 and a beta of 0.53.

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

Freehold Royalties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be given a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, October 31st. Freehold Royalties’s dividend payout ratio (DPR) is 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.