Freehold Royalties (FRU) Given New C$11.50 Price Target at Canaccord Genuity

Freehold Royalties (TSE:FRU) had its target price trimmed by Canaccord Genuity from C$15.50 to C$11.50 in a research report sent to investors on Thursday morning.

Several other research firms have also recently commented on FRU. CIBC cut their target price on shares of Freehold Royalties from C$14.50 to C$13.00 in a research note on Friday, November 16th. National Bank Financial cut their target price on shares of Freehold Royalties from C$18.50 to C$17.00 and set an outperform rating for the company in a research note on Thursday, November 15th. Desjardins cut their target price on shares of Freehold Royalties from C$15.00 to C$13.50 in a research note on Thursday, November 15th. Royal Bank of Canada cut their target price on shares of Freehold Royalties from C$18.00 to C$14.00 in a research note on Tuesday. Finally, TD Securities cut their target price on shares of Freehold Royalties from C$18.50 to C$18.00 and set a buy rating for the company in a research note on Thursday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of C$13.28.

TSE:FRU traded down C$0.12 during trading hours on Thursday, hitting C$8.52. 333,024 shares of the company traded hands, compared to its average volume of 676,139. Freehold Royalties has a twelve month low of C$7.68 and a twelve month high of C$14.85. 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 (TSE:FRU) last released its earnings results on Wednesday, November 14th. The company reported C$0.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.07. The company had revenue of C$40.82 million for the quarter, compared to analyst estimates of C$43.20 million. On average, equities analysts expect that Freehold Royalties will post 0.31000000294887 EPS for the current fiscal year.

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

In other Freehold Royalties news, Director Peter T. Harrison acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, November 27th. The stock was bought at an average price of C$8.67 per share, for a total transaction of C$43,350.00. Also, Director Tom Mullane bought 7,500 shares of the stock in a transaction dated Friday, November 30th. The stock was purchased at an average cost of C$8.60 per share, for a total transaction of C$64,500.00. In the last 90 days, insiders bought 45,800 shares of company stock valued at $401,787.

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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