Freehold Royalties (TSE:FRU) Shares Pass Above 200-Day Moving Average – Here’s What Happened
by Michael Walen · The Markets DailyFreehold Royalties Ltd. (TSE:FRU – Get Free Report)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$15.22 and traded as high as C$17.63. Freehold Royalties shares last traded at C$17.50, with a volume of 3,713,113 shares.
Analysts Set New Price Targets
Several equities analysts recently weighed in on FRU shares. TD Securities cut their target price on shares of Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Scotiabank increased their price objective on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. Raymond James Financial raised Freehold Royalties from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$14.50 to C$17.50 in a report on Tuesday, December 9th. National Bank Financial downgraded Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 price objective on the stock. in a research note on Friday, January 9th. Finally, Desjardins decreased their price objective on Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating on the stock in a report on Friday, March 13th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$16.84.
Read Our Latest Stock Analysis on FRU
Freehold Royalties Price Performance
The company has a current ratio of 1.41, a quick ratio of 1.50 and a debt-to-equity ratio of 28.51. The firm’s 50-day moving average price is C$16.85 and its 200-day moving average price is C$15.23. The stock has a market capitalization of C$2.87 billion, a PE ratio of 31.25, a PEG ratio of -0.92 and a beta of 0.65.
Freehold Royalties (TSE:FRU – Get Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$69.76 million for the quarter. Freehold Royalties had a return on equity of 8.82% and a net margin of 29.28%. On average, equities analysts forecast that Freehold Royalties Ltd. will post 0.7581169 EPS for the current fiscal year.
Freehold Royalties Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 6.2%. Freehold Royalties’s dividend payout ratio (DPR) is currently 192.86%.
About Freehold Royalties
Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.