Cormark Weighs in on Freehold Royalties Ltd’s Q3 2017 Earnings (FRU)

Freehold Royalties Ltd (TSE:FRU) – Cormark lowered their Q3 2017 earnings estimates for Freehold Royalties in a report issued on Thursday. Cormark analyst A. Arif now forecasts that the company will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.04. Cormark also issued estimates for Freehold Royalties’ Q4 2017 earnings at $0.05 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.06 EPS and FY2018 earnings at $0.22 EPS.

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A number of other brokerages have also recently issued reports on FRU. Scotiabank lifted their target price on Freehold Royalties from C$14.00 to C$15.00 and gave the stock a “sector perform” rating in a report on Thursday. TD Securities lifted their target price on Freehold Royalties from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Thursday, May 11th. Finally, Raymond James Financial, Inc. lifted their target price on Freehold Royalties from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$16.75.

Shares of Freehold Royalties (TSE:FRU) opened at 14.16 on Friday. Freehold Royalties has a 12 month low of $10.95 and a 12 month high of $15.16. The stock has a market capitalization of $1.67 billion and a P/E ratio of 363.08. The stock has a 50 day moving average price of $13.51 and a 200 day moving average price of $13.44.

The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, July 27th.

Freehold Royalties Company Profile

Freehold Royalties Ltd. develops and produces oil and natural gas primarily in Western Canada. The company focuses on acquiring and managing oil and gas royalties; and developing and producing oil and gas assets, as well as natural gas liquids and potash properties. It also has royalty interests in eight potash mines in Saskatchewan.

Earnings History and Estimates for Freehold Royalties (TSE:FRU)

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