Freehold Royalties Ltd (TSE:FRU) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$13.28.
FRU has been the subject of several analyst reports. National Bank Financial dropped their target price on Freehold Royalties from C$19.00 to C$18.50 and set an “outperform” rating for the company in a research note on Thursday, October 18th. CIBC dropped their price objective on shares of Freehold Royalties from C$13.00 to C$12.00 in a research note on Thursday, November 22nd. BMO Capital Markets dropped their price objective on shares of Freehold Royalties from C$15.00 to C$11.00 and set an “outperform” rating for the company in a research note on Thursday, November 15th. Cormark dropped their price objective on shares of Freehold Royalties from C$18.50 to C$16.50 in a research note on Tuesday, October 9th. Finally, Raymond James dropped their price objective on shares of Freehold Royalties from C$15.50 to C$14.50 and set a “market perform” rating for the company in a research note on Thursday, November 15th.
In other Freehold Royalties news, Director Tom Mullane acquired 7,500 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was bought at an average price of C$8.60 per share, with a total value of C$64,500.00. Also, Director Marvin F. Romanow acquired 30,000 shares of the company’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average cost of C$8.82 per share, with a total value of C$264,600.00. Over the last 90 days, insiders have bought 45,800 shares of company stock valued at $401,787.
Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Wednesday, November 14th. The company reported C$0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.07. The firm had revenue of C$40.82 million during the quarter, compared to analyst estimates of C$43.20 million. Equities analysts predict that Freehold Royalties will post 0.31000000294887 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.0525 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 7.39%. Freehold Royalties’s payout ratio is 643.75%.
About Freehold Royalties
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 6.1 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 42,000 wells and receives royalty from industry operators.
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