Diversified Royalty (TSE:DIV) Stock Gets Price Target Cut from Raymond James Financial

Diversified Royalty (TSE:DIV) had its target price decreased by Raymond James Financial from C$5.00 to C$4.40 in a research note issued to investors on Tuesday,BayStreet reports. Raymond James Financial currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on the company. Desjardins reduced their price objective on Diversified Royalty from C$4.75 to C$4.50 and set a “buy” rating for the company in a research note on Tuesday. ATB Cormark Capital Markets cut their price target on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$5.08.

Diversified Royalty Stock Down 1.4%

DIV stock opened at C$3.53 on Tuesday. Diversified Royalty has a 52 week low of C$3.42 and a 52 week high of C$4.98. The company has a market capitalization of C$666.31 million, a price-to-earnings ratio of 23.53 and a beta of 0.90. The firm’s 50-day moving average is C$4.04 and its two-hundred day moving average is C$4.28. The company has a current ratio of 0.58, a quick ratio of 1.74 and a debt-to-equity ratio of 177.18.

Diversified Royalty (TSE:DIV) last released its earnings results on Saturday, November 7th. The company reported C$0.03 earnings per share for the quarter. The firm had revenue of C$31.53 million during the quarter. Diversified Royalty had a return on equity of 8.78% and a net margin of 30.10%. On average, analysts forecast that Diversified Royalty will post 0.20 earnings per share for the current fiscal year.

Diversified Royalty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be given a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Friday, November 13th. Diversified Royalty’s payout ratio is currently 189.45%.

Diversified Royalty Company Profile

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. DIV, through its subsidiary, Mr. Lube Canada Ltd., also operates the Mr. Lube + Tires franchisor business in Canada. Mr. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance.