Eight Capital Boosts Freehold Royalties (TSE:FRU) Price Target to C$11.65

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Freehold Royalties (TSE:FRU) had its price target boosted by Eight Capital from C$11.50 to C$11.65 in a research note issued to investors on Friday morning, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on FRU. National Bank Financial increased their target price on shares of Freehold Royalties from C$10.00 to C$10.50 and gave the stock an outperform rating in a research report on Friday. Royal Bank of Canada cut their price target on shares of Freehold Royalties from C$14.00 to C$13.00 in a report on Thursday, July 18th. Raymond James cut their price target on shares of Freehold Royalties from C$10.25 to C$9.00 in a report on Thursday, July 11th. TD Securities raised their price target on shares of Freehold Royalties from C$14.00 to C$14.50 and gave the company a buy rating in a report on Friday. Finally, Canaccord Genuity raised their price target on shares of Freehold Royalties from C$11.50 to C$12.00 in a report on Tuesday, April 9th.

FRU stock opened at C$8.10 on Friday. Freehold Royalties has a 12-month low of C$7.66 and a 12-month high of C$12.35. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 12.00. The stock has a market cap of $959.51 million and a P/E ratio of 405.00. The business has a 50 day moving average of C$8.26.

Freehold Royalties (TSE:FRU) last released its earnings results on Tuesday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.09). The business had revenue of C$35.61 million for the quarter, compared to the consensus estimate of C$35.20 million. As a group, analysts expect that Freehold Royalties will post 0.17 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.0525 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 7.78%. Freehold Royalties’s dividend payout ratio is currently 2,625.00%.

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 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.

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