Freehold Royalties (TSE:FRU) Sets New 12-Month High – Here’s Why

Freehold Royalties Ltd. (TSE:FRU)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$16.92 and last traded at C$16.79, with a volume of 252386 shares. The stock had previously closed at C$16.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James Financial upgraded shares of Freehold Royalties from a “hold” rating to a “moderate buy” rating and boosted their target price for the company from C$14.50 to C$17.50 in a research report on Tuesday, December 9th. Scotiabank lifted 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 research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Freehold Royalties from C$14.50 to C$15.25 in a research report on Friday, November 14th. Natl Bk Canada cut Freehold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Canaccord Genuity Group lifted their price target on Freehold Royalties from C$16.00 to C$17.00 in a research note on Friday, November 14th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Freehold Royalties presently has a consensus rating of “Hold” and an average price target of C$15.79.

Freehold Royalties Price Performance

The business’s 50-day simple moving average is C$15.65 and its two-hundred day simple moving average is C$14.48. The stock has a market cap of C$2.76 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of -0.92 and a beta of 0.68. The company has a debt-to-equity ratio of 22.91, a current ratio of 1.65 and a quick ratio of 1.50.

Freehold Royalties (TSE:FRU) last announced its quarterly earnings results on Thursday, November 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. Freehold Royalties had a net margin of 42.42% and a return on equity of 14.43%. The company had revenue of C$74.36 million during the quarter. Research analysts expect that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current year.

Freehold Royalties Company Profile

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.