Brokerages Set Freehold Royalties Ltd (FRU) Target Price at $14.28

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Shares of Freehold Royalties Ltd (TSE:FRU) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$13.28.

A number of brokerages have commented on FRU. CIBC decreased their target price on Freehold Royalties from C$14.50 to C$13.00 in a research note on Friday, November 16th. Canaccord Genuity reduced their price objective on Freehold Royalties from C$17.00 to C$15.50 in a research report on Wednesday, October 24th. National Bank Financial reduced their price objective on Freehold Royalties from C$18.50 to C$17.00 and set an “outperform” rating for the company in a research report on Thursday, November 15th. Desjardins reduced their price objective on Freehold Royalties from C$15.00 to C$13.50 in a research report on Thursday, November 15th. Finally, Royal Bank of Canada reduced their price objective on Freehold Royalties from C$18.00 to C$14.00 in a research report on Tuesday.

Shares of FRU traded down C$0.11 during mid-day trading on Friday, hitting C$8.53. The stock had a trading volume of 415,619 shares, compared to its average volume of 687,820. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 11.46. Freehold Royalties has a fifty-two week low of C$7.68 and a fifty-two week high of C$14.85.

Freehold Royalties (TSE:FRU) last released its quarterly earnings data on Wednesday, November 14th. The company reported C$0.07 EPS for the quarter, hitting analysts’ consensus estimates of C$0.07. The business had revenue of C$40.82 million during the quarter, compared to analyst estimates of C$43.20 million. Analysts expect that Freehold Royalties will post 0.31000000294887 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.0525 per share. This represents a $0.63 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date is Friday, December 28th. Freehold Royalties’s payout ratio is 643.75%.

In other Freehold Royalties news, Director Marvin F. Romanow purchased 30,000 shares of Freehold Royalties stock in a transaction on Friday, December 7th. The stock was bought at an average price of C$8.82 per share, for a total transaction of C$264,600.00. Also, insider Robert Edward Lamond acquired 3,300 shares of Freehold Royalties stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average cost of C$8.89 per share, with a total value of C$29,337.00. Insiders have acquired a total of 45,800 shares of company stock valued at $401,787 over the last three months.

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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Analyst Recommendations for Freehold Royalties (TSE:FRU)

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