Canaccord Genuity Group Increases Diversified Royalty (TSE:DIV) Price Target to C$5.50

Diversified Royalty (TSE:DIV) had its price target increased by research analysts at Canaccord Genuity Group from C$4.75 to C$5.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 13.17% from the stock’s current price.

Separately, Desjardins raised their price objective on shares of Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Diversified Royalty has a consensus rating of “Moderate Buy” and an average target price of C$4.74.

Diversified Royalty Price Performance

Shares of Diversified Royalty stock traded up C$0.19 during trading hours on Wednesday, reaching C$4.86. The stock had a trading volume of 1,503,490 shares, compared to its average volume of 369,059. The stock’s 50 day moving average is C$4.21 and its 200 day moving average is C$3.96. The firm has a market capitalization of C$831.10 million, a PE ratio of 23.14 and a beta of 1.07. Diversified Royalty has a twelve month low of C$2.87 and a twelve month high of C$4.88. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. The company had revenue of C$18.80 million during the quarter. Equities analysts expect that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.